HOMEFRONTBDlive.co.za | @BDliveSABusin ess Day FRIDAY, JULY 17 2015

KELLOGG COMPANY OF SA’s NEW HQ

PAGE 2

AFRICA’s FIRST CO-WORKING CONFERENCE

PAGE 3

BUYING PROPERTY IN GREECE

PAGE 14

WHY EXPATS ARE COMING HOME

PAGE 8

WORDS: DAVID A STEYNBERG :: PHOTOS: FNB AND ISTOCK

CONTINUED ON PAGE 6

Do online tools that make buying and selling property easier threaten the very foundation of the traditional estate agency? Or do they enhance the relationship between agent and home buyer/seller?

Online property search tools – a threat to traditional real estate agencies?

Safe. Secure.

Surrounded by nature.

Nedbank Ltd Reg No 1951/000009/06.

Authorised financial services and registered

credit provider (NCRCP16).

MAKE

HAPPEN

ONLINE BOND APPROVALWITHIN HOURS

9596

• Apply anytime, anywhere

• Just go to nedbank.co.za/homeloans, call 0860 911 007

or SMS “Bond” to 44503 and one of our consultants will call you back

• We’ll assist you through the whole process

Terms and conditions apply. Standard SMS rates apply.

Be more savvy when buying a home

LIFESTYLE

LIFESTYLE Friday July 17 2015

WORDS: GENEVIEVE PUTTER :: PHOTOS: ELSA YOUNG

Cereal gets realKellogg Company of SA’s bright and vibrant new headquarters in Woodmead is well suited to the modern work environments, allowing employees to ‘get it all’

T oday’s corporate office environments are a far cry from their drab,

lifeless, grey forerunners of a decade or two ago. The successful company realises it all starts with the employees, and that their efficiency correlates directly with their wellbeing in the workplace.

The key is a work environment that is comfortable, safe and functional and that, above all, inspires those who use it day in and day out.

This was the sentiment behind Kellogg Company of SA’s decision that it was time for a new HQ. Wanting an inspiring space that was slick yet robust, it enlisted the expertise of Tétris, a design agency that forms part of Jones Lang LaSalle (JLL), a commercial real estate consultancy. We chatted to Kara Timperley, marketing director at Kellogg Company of SA, about the refurbishment and how it aligns with the global trend of dynamic and stimulating workspaces.

How did you come to be in the new offices in Woodmead?We moved in on June 2, 2015, after more than a decade in our previous offices. The new space is slightly smaller, as we have transitioned to an open-plan work setting, embracing a vibrant and agile work environment. The space accommodates 72 employees, with room to grow as we expand.

Can you describe the nature of the business in relation to the offices?The new office promotes

a collaborative culture and fosters cross-functional working and a sense of teamwork.

Why the decision to refurbish the offices? We were lucky enough to find an empty shell that we could make our own. Kellogg has a unique identity and a strong heritage and culture; we wanted to express that throughout the office.

The venue was completely remodelled and fitted out. What was the brief to Tétris? Tétris was tasked with finding and creating a dynamic space that could accommodate our changing workforce and encourage cross-functional collaboration. There were also a number of specific requirements to consider:

1. Floor space to accommodate about 95 staff members 2. One floor to accommodate all employees3. Proximity to key commuter hubs connecting to Or Tambo International Airport (specifically the gautrain) 4. Facilities for international guests (showers and cloakrooms)5. Sufficient facilities for video conferencing and conference calls6. Meeting rooms of various sizes7. Access for disabled individuals8. Energy efficiency9. Proximity to lifestyle amenities such as gyms, crèches and canteens10. Sufficient parking and access to efficient public transport.

How do you feel they executed it?The team from Tétris really grasped our vision and brought it to life in a practical, modern and aesthetic way. The use of colour and light is one of the best things about being in the new space. Unique touches throughout the building help to draw people in and inspire them to use the dynamic space.

What were some of the biggest challenges when transforming the space, and how did you overcome them?There were no major challenges, thank goodness. Obviously there is always a difference of opinion in the initial stages, but the Tétris team was eager and excited by the vision, and this allowed us to work together seamlessly. The result is a beautiful office space that we all love to be in. We are really very happy with the finished product – it has delivered exactly what we had in mind.

What are some of your favourite features of the space and why? Definitely the entrance area. It’s inviting, it has interesting touches of wheat and yet it is very modern, with the right amount of branding. It depicts who we are at Kellogg at a glance.

How do you feel the space reflects the business?Given its open and collaborative nature, we feel the space reflects the Kellogg culture of collective accountability, passion for our brands and drive to succeed.

“The successful company realises it all starts with the employees, and that their efficiency correlates directly with their wellbeing in the workplace. The key is a work environment that is comfortable, safe and functional and which, above all, inspires those who use it day in and day out”

PUBLISHED BY THE CREATIVE GROUP IN ASSOCIATION WITH TMG Unit G4, Old Castle Brewery, 6 Beach Road, Woodstock, 7925021 447 7130

EDITORIAL TEAMActing Editor: Bridget McNultyCreative Director: Mark Peddle

ADVERTISING SALESMichèle Jones michele.jones@thecreativegroup.info 084 246 8105 (WC)Susan Erwee susan.erwee@thecreativegroup.info 083 556 9848 (WC)Ian Pepler ian.pepler@thecreativegroup.info 082 465 2734 (GP)Bradley Sparks bradley.sparks@ thecreativegroup.info 073 666 3842 (KZN)

Art Director: Lucia VigliettiChief Copy Editor: Yaron Blecher

The Creative Group CEO: Shaun Minnie shaun.minnie@thecreativegroup.info Busin ess DayA PUBLICATIONBusin ess DayA PUBLICATION

LIFESTYLE Friday July 17 2015

CO-WORKING AFRICA CONFERENCE 2015Dates: July 23-24, 2015Venue: Workshop 17, 17 Dock Road, V&A Waterfront, Cape TownTickets: R2,750Bookings at coworkingafrica.com

TRAVEL

How do you feel they executed it?The team from Tétris really grasped our vision and brought it to life in a practical, modern and aesthetic way. The use of colour and light is one of the best things about being in the new space. Unique touches throughout the building help to draw people in and inspire them to use the dynamic space.

What were some of the biggest challenges when transforming the space, and how did you overcome them?There were no major challenges, thank goodness. Obviously there is always a difference of opinion in the initial stages, but the Tétris team was eager and excited by the vision, and this allowed us to work together seamlessly. The result is a beautiful office space that we all love to be in. We are really very happy with the finished product – it has delivered exactly what we had in mind.

What are some of your favourite features of the space and why? Definitely the entrance area. It’s inviting, it has interesting touches of wheat and yet it is very modern, with the right amount of branding. It depicts who we are at Kellogg at a glance.

How do you feel the space reflects the business?Given its open and collaborative nature, we feel the space reflects the Kellogg culture of collective accountability, passion for our brands and drive to succeed.

When the days start to get chillier, you can look forward to

the incredible winter specials that pop up everywhere, particularly those offered by establishments on the outskirts of the Mother City. It’s the perfect excuse to book that night or two away and indulge in some R&R. I headed to Kleine Zalze Lodge on the acclaimed Stellenbosch wine estate.

Pulling up to Pinot Noir 2, I was looking forward to unwinding after a long week. Set between the estate’s sprawling vineyards and the Peter Matkovich-designed De Zalze Golf Course, the white Cape Dutch lodges with their wooden windowpanes and copper trimmings were inviting from the get-go.

Kleine Zalze is renowned for its award-winning wines, so I headed to the cellar to taste for myself. There were so many certificates of achievement that there was hardly enough wall space to accommodate them all. I especially enjoyed comparing the Vineyard Selection Shiraz 2012 and

Keeping cosy at Kleine ZalzeWant to creep away for a mini break on a wintry weekend? Kleine Zalze Lodge has a seasonal special just for youWORDS: CLAIRE BARNARDO :: IMAGES: SUPPLIED

the VS Shiraz/Mourvedre/Viognier 2013 blend — two impeccably made wines from the Vineyard Selection. Kleine Zalze also makes its own MCC (Chardonnay Pinot Noir 2010) — a must-taste.

But what would fantastic wine be without incredible food to match? Enter the Kleine Zalze winter plate, part of the stay-over special, at the estate’s acclaimed restaurant, Terroir (head chef Michael Broughton released Terroir — The Cookbook, last year). If you haven’t eaten there before, prepare to be delighted. I can highly recommend the signature prawn risotto starter dish — it’s my new favourite. Not to mention ending the meal with marshmallow ice cream.

After a full day of indulging on the estate, heading back to the lodge to cosy up and rest was perfect in the misty-cold weather. Magies vol, ogies toe.

The Kleine Zalze Eat & Stay Winter Special costs R650 a person a night and is running until September 30. 021 880 0740, www.kleinezalze.co.za

W ith the phenomenon of independent, freelance and mobile

workers growing, there’s been a concurrent rise in the number of co-working spaces. This is according to Lizelle van Rhyn, founder of Cape Town Office and part of the local organising body of Africa’s first co-working conference.

“A co-working space is defined as one where a variety of people from multiple disciplines come together to work,” she explains. “Traditionally, this would be freelancers, entrepreneurs or students, but more recently we’re seeing corporates make use of Cape Town Office to place employees where they don’t have a physical office.

“Because the space is shared, it is a cost-effective way to enjoy corporate amenities, such as high-speed fibre internet, at a fraction of the cost and with the fringe benefits of networking and socialising.”

TRENDS

Africa’s first Co-working Conference

WORDS: GENEVIEVE PUTTER :: PHOTOS: KARL ROGERS AND SUPPLIED

Co-working spaces have caught on in Cape Town. The next move is to improve on the services provided

Van Rhyn says that the consciousness around traditional work behaviour is changing because technology is enabling us to work from anywhere and not just at our dedicated workspace. It’s no longer about how many hours you put in but the quality of what you are creating that matters. “More and more people are choosing to work informally in a professional way, and the opportunity to collaborate within a co-working environment, share experiences and network beats working from home hands down,” she says.

In Cape Town the estimated number of co-working office spaces is 15, a significant figure given the city’s size in

comparison with other African cities such as Lagos and Johannesburg. Africa’s first co-working conference is affiliated with Co-working Europe and will see speakers from the US, Spain, Senegal, Mozambique, Rwanda and France, among other countries, presenting their insights.

The purpose of the event is to establish a more formal body of co-working space operators in SA. “The conference will give providers of co-working spaces in Africa the opportunity to come together, share best practice and discuss ways of broadening the scope of what we offer,” says Van Rhyn. The goal is to make SA a “work-cation” destination.

“Co-working spaces are secure, low-risk, professional environments. You simply walk in, sit down and start working” Lizelle van Rhyn, founder, Cape Town Office

ICIC 2 75 HARRINGTON

CAPE TOWN OFFICE

CAPE TOWN OFFICE

CAPE TOWN OFFICE

An InternationalAssociate of Savills

KYALAMI HEIGHTSGAUTENG

R13.95 MILLION

PARKHURSTGAUTENG

R5.6 MILLION

A unique 4-bedroom home defined by U-shape architecture, resting on over 830 m². Features

a fully self-contained cottage, with a discrete private entrance, multi-car garage and vast

entertainment area.

Bedrooms 4 | Bathrooms 3

Alex Dicks 082 878 3083Terri Dicks 083 252 7668

HELDERFONTEIN ESTATE

GAUTENGR13.5 MILLION

Breathtaking. A meticulously designed north-facing 4-bedroom home with show stopping

entertainment area and boma.

Bedrooms 4 | Bathrooms 4 | Garages 2

Sue Ralph 082 892 8772Brenda Gilbert 083 251 4452

Inspired by the great island. A sprawling 5-bedroom 960 m² Balinese-style home set on a 4 245 m²

rise facing north. Precise and absolute attention to detail is paid throughout the space while still

feeling totally natural in the serene surroundings.

Bedrooms 5 | Bathrooms 5 | Garages 4

Tony Santana 082 654 1268Leanne Santana 083 273 6881

REF# FW1227514

REF# HP1226217

REF# MR1189606

www.pamgolding.co.za | m.pamgolding.co.za

CONSTANTIA UPPERWESTERN CAPER17.9 MILLION

Tucked away in the sought-after security estate of ‘High Constantia’, this grand home is designed for easy living. Its free flowing entertainment area gives way to generous accommodation, beautiful views and guest cottage.

Bedrooms 4 | Bathrooms 4 | Garages 3 Arie Kadé 083 448 0488Angie Bloom 083 678 7876

SIMON’S TOWNWESTERN CAPER4.2 MILLION

Charming turn of the century farmhouse lovingly restored and maintained. A large undercover verandah reveals spectacular ocean views while picturesque gardens invite quiet moments and relaxed strolls.

Bedrooms 3 | Bathrooms 3 | Garages 2

Rosalie Jack 083 658 417Alan Dunlop 083 435 5193

REF# SIM1195853

REF# KW1226109

BANTRY BAY WESTERN CAPER39.95 MILLION

An exquisite home that combines grace andstyle. Panoramic ocean views provide theincredible backdrop, while pristine interiorscreate an ambience of romance and serenity.The spacious living rooms flow to an expansive verandah, with patio and manicured gardens.

Bedrooms 5 | Bathrooms 3 | Garages 8

Jackie Rosenberg 083 414 6600Janice Toay 082 770 1510

REF# PR1022905

An InternationalAssociate of Savills

KYALAMI HEIGHTSGAUTENG

R13.95 MILLION

PARKHURSTGAUTENG

R5.6 MILLION

A unique 4-bedroom home defined by U-shape architecture, resting on over 830 m². Features

a fully self-contained cottage, with a discrete private entrance, multi-car garage and vast

entertainment area.

Bedrooms 4 | Bathrooms 3

Alex Dicks 082 878 3083Terri Dicks 083 252 7668

HELDERFONTEIN ESTATE

GAUTENGR13.5 MILLION

Breathtaking. A meticulously designed north-facing 4-bedroom home with show stopping

entertainment area and boma.

Bedrooms 4 | Bathrooms 4 | Garages 2

Sue Ralph 082 892 8772Brenda Gilbert 083 251 4452

Inspired by the great island. A sprawling 5-bedroom 960 m² Balinese-style home set on a 4 245 m²

rise facing north. Precise and absolute attention to detail is paid throughout the space while still

feeling totally natural in the serene surroundings.

Bedrooms 5 | Bathrooms 5 | Garages 4

Tony Santana 082 654 1268Leanne Santana 083 273 6881

REF# FW1227514

REF# HP1226217

REF# MR1189606

INVESTMENT Friday 17 July 2015

Every year somebody inevitably produces a map of the US that is

meant to remind everyone just how big its economy really is. It compares the gross domestic product (GDP) of each of the 51 states and Washington DC with those of independent nations across the world.

This year Business Insider produced a map based on data from the US Bureau of Economics Analysis and the CIA World Factbook. It shows that Florida’s economy is as big as the Netherlands’ and that Massachusetts’ economy matches Belgium’s.

Where the message really starts to hit home, though, is when one considers that if Texas were a country, it would have the 15th largest economy in the world, just bigger than Saudi Arabia’s. California’s economy is comparable to Great Britain’s and it would be the world’s seventh largest economy if the state were a country.

In total, the GDP of the US is $17,42-trillion. That is larger than the economies of Japan, Germany, India, the UK, Russia and Canada combined. It is only just short of the $18,14-trillion produced by the entire EU.

These figures are slightly misleading because they don’t weight GDP for population, but the point is that the US is an economic giant that for some time has dwarfed anything else. Since the Second World War, it has dominated the world economy.

Now, however, China is challenging that pre-eminence. Although the CIA Factbook puts China’s economy at $10,36-trillion, it also notes that this is not an accurate measure. Because China’s exchange rate is not set by the market, its GDP on a purchasing power parity (PPP) basis gives a better indication.

Using the 2013 figures from the World Bank, China’s GDP on a PPP basis was only just shy of that of the US two years ago. Which means that by now it could be bigger.

Having the world’s largest economy doesn’t mean that China’s is the most important. That title is likely to remain with the US for a while because, for all of its size, China does not yet have the international influence that the US does.

Policies set in Washington DC still have a far greater impact on what happens across the world than policies set in Beijing. The US also remains very much the centre of the financial world, and that is unlikely to change as long as the dollar is still regarded as the world’s reserve currency and New York hosts the world’s largest stock exchange.

China’s domestic growth has given it more international clout but it remains a developing player rather than an established powerhouse. The world economy still marches to the drum of the US and will probably contin ue to do so for some time.

Analyse it

The world’s economic giants

WORDS: PATRICK CAIRNS

According to the World Bank, the US’s 2013 GDP on a purchasing power parity basis was $16,77-trillion. China’s was $16,16-trillion

CONTINUED FROM PAGE 1

“Online tools pose absolutely no threat to the role of the estate agent”Lew Geffen, chairman, Lew Geffen Sotheby’s International Realty

J ust last month FNB launched its own online property portal called

Property Leader, complete with deeds office information on suburbs as well as valuation services and advice on buying and selling. The bank joins Absa in this space.

Portals have been around for some time and the information they contain is growing richer. Private Property’s new Neighbourhoods section (www.privateproperty.co.za/neighbourhoods), for example, lets readers “discover, research and find everything you need to know about SA’s best neighbourhoods”. Particularly innovative is the categorisation of neighbourhoods according to lifestyle types.

But far from viewing such online services as a threat,

The digital age has significantly changed the traditional relationship between estate agents and buyers/sellers. We canvass the agents

SA’s real estate leaders see them as complementing the role of the traditional agent.

EDUCATING POTENTIAL BUYERS AND SELLERSPam Golding Properties CEO Andrew Golding says that since the advent of internet property portals, a number of new products have come to market that serve to educate and inform potential purchasers.

“It seems that FNB’s Property Leader is a further example of this,” he says. “This trend of providing information is in line with global trends that have been around for a number of years now and which serve to further educate potential buyers in an online environment.

“Despite the potential for disintermediation, the fact is that property purchases

are still the biggest single investment most homeowners make in their lives. Very often these purchases have a strong emotional component to them, and while information is valuable and saves time, the role of the estate agent worldwide continues to add value to individual property transactions by providing, among other things, local expertise, knowledge, experience and negotiating skills.”

Technology has certainly improved the knowledge of everyone involved in the property transaction process — home buyers, sellers and estate agents — and has made more price data and market trend information readily available to buyers and sellers.

Chas Everitt International Property Group MD Berry Everitt says that this transparency is good for agents because it is always easier to deal with well-informed clients. “At the same time, however, property buyers and sellers still need agents to represent them and handle the negotiations between them. Property transactions often involve strong emotions and perhaps some legal complications, so it’s important that someone who is properly trained and experienced is involved, who can see past these and conclude a deal that is fair to both parties.”

Part of achieving this ideal lies in education, reading up and learning as much as possible about buying and selling property before taking the plunge. Says Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty: “Informed buyers or sellers make better choices. They know the potential costs

Online tools: friend or foe?

involved and they’re also better able to identify value when they see it. The internet is a very good place to do that sort of research. In an ideal world, every buyer and seller would approach a transaction with a thorough knowledge of the process, the market conditions and the area in which they’re transacting.”

NEW PROPERTY INDUSTRY PARADIGMSo how, then, are estate agencies providing value in this information-rich age? And what are they doing to hold the competitive edge?

Seeff’s national marketing manager Ted Frazer says it is entirely up to the professionals to provide value, as consumers have an increasing number of tools available to them. “In our industry, this means that agents need to up their game and ensure that they are suitably qualified to provide a professional service that adds real value,” he says. “This can only be a good thing, as it will see the overall standards across the industry improving as the bar is raised. Weaker and poorly trained agents will struggle to maintain their position in this new paradigm, which will see the industry becoming increasingly professionalised.”

It would seem that increased functionality in an online environment that brings buyers and sellers closer than ever before to their banks does not threaten the role of the estate agent.

Perhaps it just takes us closer to an age in which informed sellers and informed buyers meet with professional estate agents to conclude the best possible deal for all involved – the nirvana of the property industry.

Where the message really starts to hit home, though, is when one considers that if Texas were a country, it would have the 15th largest economy in the world, just bigger than Saudi Arabia’s. California’s economy is comparable to Great Britain’s and it would be the world’s seventh largest economy if the state were a country.

In total, the GDP of the US is $17,42-trillion. That is larger than the economies of Japan, Germany, India, the UK, Russia and Canada combined. It is only just short of the $18,14-trillion produced by the entire EU.

These figures are slightly misleading because they don’t weight GDP for population, but the point is that the US is an economic giant that for some time has dwarfed anything else. Since the Second World War, it has dominated the world economy.

Now, however, China is challenging that pre-eminence. Although the CIA Factbook puts China’s economy at $10,36-trillion, it also notes that this is not an accurate measure. Because China’s exchange rate is not set by the market, its GDP on a purchasing power parity (PPP) basis gives a better indication.

Using the 2013 figures from the World Bank, China’s GDP on a PPP basis was only just shy of that of the US two years ago. Which means that by now it could be bigger.

Having the world’s largest economy doesn’t mean that China’s is the most important. That title is likely to remain with the US for a while because, for all of its size, China does not yet have the international influence that the US does.

Policies set in Washington DC still have a far greater impact on what happens across the world than policies set in Beijing. The US also remains very much the centre of the financial world, and that is unlikely to change as long as the dollar is still regarded as the world’s reserve currency and New York hosts the world’s largest stock exchange.

China’s domestic growth has given it more international clout but it remains a developing player rather than an established powerhouse. The world economy still marches to the drum of the US and will probably contin ue to do so for some time.

The world’s economic giants

NEWS Friday 17 July 2015

FEWER HOMES TRANSFERRED EACH MONTH IN 2015Fewer homes are being transferred monthly this year than in 2014, according to deeds office records. Year on year, 6.2% fewer home transfers (22,640) have taken place in the first half of 2015, compared with 24,140 transfers in H1 2014.

Durban showed the biggest drop, with 10.7% fewer transfers, after which came East London (9.7% down), Cape Town (9.5% down), the East Rand (9% down), Port Elizabeth (7.9% down), Johannesburg (6.1% down) and Bloemfontein (1.6% down). Thanks to public sector employment and industry, only the Vaal Triangle and Pretoria saw positive albeit marginal sales activity of 0.8% and 0.2% respectively.

“We expect the sales and transfer activity levels to drop further during the second half of 2015 as economic conditions are deteriorating, consumer confidence levels have hit 15-year lows and interest rates are predicted to rise by between 0.25% and 0.5% before the end of the year,” says property economist Neville Berkowitz, who heads up the recently launched HomeBid.

His company analysed 136,000 home transfers in the various deeds offices during the first half of 2015 and noted that Johannesburg’s average home price is higher than Cape Town’s — R1,566,017 against R1,492,551. Durban is slightly behind Cape town at R1,448,251.

“I have been in the property market since 1973 and have seen numerous upswings and downswings,” he says. “Make no mistake, we are in a downswing. Members of the public need the facts so that they can make correct decisions about buying, selling or staying in their home, which invariably is their most valuable asset.”

Pretoria CBD buildings due for an upgrade

The end of June was the deadline for offers on an entire precinct of

commercial buildings in the Pretoria CBD owned by the Telkom Retirement Fund.

Atlantic Seaboard, City Bowl are hot property

Norman Raad, CEO of Broll Auctions and Sales, says the response was overwhelming and that due diligence will now be conducted on those who succeeded in their bids.

“In a month-long process we attracted offers from a number of listed funds and private investors,” says Raad. “We could not have asked for a

S tock shortages persist in popular regions across SA, and the

Atlantic Seaboard in the Western Cape, the neighbouring central city district and the City Bowl are no different.

According to Ian Slot, Seeff’s MD for the area, more than R2.7bn in real estate sold on the Atlantic Seaboard alone during the first half of this year, at an average price of R7.3m.

“That is 10% more than the first six months of 2014’s total value of R2.4bn. The average price is 20% up on last year’s R6.1m,” he says.

“With sales of up to R100m for a luxury Clifton home and rentals of up to R100,000 a month, there is still no let-up in demand.

“And, while the banks are signalling a

slowdown, there are still no signs of that here.”

Slot says it is a good time for sellers as the market is being driven by a shortage of supply.

“There is still an abundance of buyers, and with stock levels severely depleted, the pace of new stock coming onto the market is still too slow to meet the buyer demand. There were only 149 show houses during May, for example — 15% less than in May last year.

“Properties are selling faster and for closer to the asking prices. In May 2014 the average time it took to sell a property here was about 85 days; it is now about 23% faster, or 65 days. Well-priced homes, especially those below the R10m to R15m price mark, can sell within a day of coming onto the market.”

According to the FNB Western Cape House Price Index for the second quarter of 2015, the Western Cape showed year-on-year inflation of 7.7%, the highest of all of the provinces.

Says John Loos, household and property sector strategist at FNB: “This above-average price inflation comes despite

better response. I cannot recall a sales process for a transaction of this scale being so well attended and having so many interested parties submit offers.”

The precinct is made up of 10 buildings that are all tenanted by Telkom and will remain so until January 2019.

“This makes them ideally suited for another government precinct, conversion to residential accommodation and new retail space spanning the two entire CBD blocks,” says Raad. “This unprecedented opportunity, with such tremendous potential for redevelopment, will bring much-needed upgrades and refurbishment to the area. Many other properties will no doubt follow suit, with positive spin-offs for the CBD property market, as adjacent and surrounding buildings are likely to enjoy a concomitant increase in value.”

Melrose gets a new place

Luxury residential flats continue to be launched across Johannesburg

and Pretoria in nodes such as Rosebank and Menlyn.

Amdec recently launched One on Whitley in Melrose, and Pam Golding Properties CEO Andrew Golding says that the complex was developed in response to the demand for residential space in the precinct.

The group is marketing 119 luxury one- and two-

bedroom flats in the new development.

Golding says that Melrose Arch remains popular because of its status, sophistication and exclusivity as well as for the convenience and high-street lifestyle it offers. “One on Whitley is a timeous and welcome development that will assist in meeting the demand for innovative, sophisticated urban lifestyle spaces in Gauteng,” he says.

the fact that the estimated average house price in the Western Cape was R1,230,487 in the second quarter — based on what was transacted and financed through FNB — making it on average the province with the most expensive homes. The Western Cape is significantly higher than

the second-most expensive province, Gauteng, with its average of R1,011,214,”

The bank’s estate agent survey for the second quarter of 2015 shows the average time of homes on the market prior to sale has dropped as low as 9.1 weeks. This is much quicker than the 12.1-week national average estimate.

“One on Whitley will assist in meeting the demand for innovative, sophisticated urban lifestyle spaces” Andrew Golding, CEO, Pam Golding Properties

Raad says none of this would have been possible without the residential conversion partners, who demonstrated vision and innovation by converting underperforming office buildings into desirable residential accommodation.

This has attracted new investment and breathed new life into central city locations. City Property is one such company: it has a Pretoria CBD residential portfolio of 20 buildings.

Raad says investors have benefited from rental income streams as new tenants have taken occupation, both from a residential and retail perspective. “Underpinned by factors such as relatively low interest rates, a shortage in the supply of well-located residential accommodation and the ongoing demand for good-quality development opportunities, exciting times lie ahead in the property development sector,” he says.

INVESTIGATION Friday July 17 2015

WORDS: DAVID A STEYNBERG :: PHOTOS: SUPPLIED

“More than 300,000 South African expats have returned home in the past five years”Angel Jones, CEO, The Homecoming Revolution

More than 300,000 South African expats have

returned home over the past five years, according to Angel Jones, CEO of the Homecoming Revolution, a company that aims to match professionals with companies on the continent and thus reverse the brain drain of the past decade.

With 12,000 unique visitors to her website every month, it seems many more are looking to return. But does the demand for property confirm that this influx is indeed occurring?

“Our offices in the Southern Suburbs and on the Atlantic Seaboard in Cape Town each receive at least five to 10 inquiries a month, with slightly fewer queries coming into the Gauteng offices,” says Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty. While the numbers are increasing steadily, sustained uncertainty about corruption and political stability may derail this process, he says. “Golf and security estates are popular in the Southern Suburbs of Cape Town, as are secure

Expats look back homeThe R2m-and-above property market looks set to benefit from the rising number of South Africans returning home from overseas (with fatter wallets)

freestanding houses. On the Atlantic Seaboard it depends entirely on the stage of life of the expats returning. Some look for lock-up-and-go-type properties such as flats in Clifton, while others want villas in Fresnaye, Camps Bay or Bantry Bay. In Johannesburg, security estates are very popular, as are secure freestanding properties in areas that have good neighbourhood watches and security patrols.”

THE GOOD LIFE IN SA Jones presents the main reason for expats’ return: “Being closer to friends and family and a sense of belonging are the biggest reasons we find for professionals coming back to SA. Next are weather and lifestyle, then career opportunities and, lastly, a sense of purpose.”

Real estate agents confirm this trend. “Often the grass simply isn’t greener on the other side of the world, and most expats return because they felt alienated overseas and struggled to integrate,” says Carol Reynolds, Pam Golding Properties area principal in Durban, Durban

North and Umhlanga. “The lifestyle benefits of our climate and beaches, along with the support offered by family and friends, are difficult to replace. And when it comes to property, value for money cannot be compared. A R5m home here is a beautiful, stylish mansion, whereas R5m buys very little offshore.”

EXCEPTIONAL PROPERTY VALUESeeff chairman Samuel Seeff confirms that expats who earned dollars, pounds or euros overseas will find that South African property offers exceptional value, whether they invest R1m in a flat in the Blouberg area or R56m in a Clifton villa. “Expats get more value for each square metre in SA as compared with other international markets,” he says. “Our real estate standards are among the highest in the world.

“Cape Town’s coastal areas tend to be especially popular with expats: in some areas up to 20% of buyers over the past three years have been expats either returning and needing a place to settle, or investing now with the view to

returning at a later stage and using the property for holiday purposes in the interim.”

Another consideration for expats is their family’s wellbeing and the education of their children. “In Cape Town, returning families tend to look in the Southern Suburbs of Upper Constantia, Bishopscourt, Upper Claremont and the surrounding luxury security estates in particular, because they want to be close to some of the best schools in the country, such as Reddam House, Bishops, SACS, the International School of Cape Town and the American International School,” says Geffen. The Atlantic Seaboard became a lot more attractive to returning families since Reddam House opened a school in Green Point, he says. “In Johannesburg, enquiries are concentrated around the Northern Suburbs such as Bryanston, Sandton, Woodmead and Illovo, suburbs that are considered more secure and in proximity to good schools.”

Seeff Sandton MD Charles Vining agrees that suburbs that are close to private schools and business

centres remain in demand. “Central Sandton suburbs, for example, are popular,” he says. “However, traditional suburbs with a village feel, such as Parktown, Parktown North, Westcliff and Saxonwold, and suburbs with security estates and gated communities, such as Fourways, Dainfern and Kyalami, are also popular.”

Expats tend to be cash buyers or have sufficient cash deposits available, and look for properties from R2m. They rarely buy land on which to build. They are looking for complete, secure and stylish homes that offer both luxury and lock-up-and-go functionality. This is good news for home owners in this category who might be looking to sell.

THE PEARLS OF UMHLANGA

INVESTIGATION Friday July 17 2015

HOME HOT SPOTS

Cape Townn Steenbergn Stonehurstn Silvertree

Southern Peninsulan Lake Michelle

KwaZulu-Nataln Hawaan Forest Estate n Izinga n The Pearls n The Oysters

Johannesburgn Fourways Gardensn Dainfernn Cedar Lakesn Kyalami Estate n Waterfall

“More than 300,000 South African expats have returned home in the past five years”Angel Jones, CEO, The Homecoming Revolution

A home for everyonewww.privateproperty.co.za

Search property on any device.

Expats look back home

“Our real estate standards are among the highest in the world”Samuel Seeff, chairman, Seeff

NIEUWE STEENBERG LAKE MICHELLE.

WATERFALL

FOCUS ON HIGHLAND GATE July 17 2015

“I’m always taken aback by the sheer beauty of the place” Ernie Els, South African golf legend

Nestled in the Steenkampsberg mountain range near

Dullstroom, just two-and-a-half hours from Joburg, the Highland Gate Golf and Trout Estate boasts the ideal offering for investors looking to own a piece of nature and have the most sought after Ernie Els signature golf course on their doorstep.

Visitors to this magnificent golf course, rated by many to be one of the best in SA, are in for a treat. The course is set amongst some of the most beautiful mountainous terrain in Mpumalanga. Although the testing layout provides an equal challenge to both club player and the tour professional, Highland Gate’s strength lies in its high altitude, which makes for a scenic and truly memorable golf experience.

Highland Gate Golf and Trout Estate has recently been acquired and relaunched by Century Property Developments and is providing investors the opportunity of buying a weekend getaway property in SA’s most exclusive golf and fly-fishing resort for the whole family. There is, however, a limited number of just 174 investor stands available, selling from as low as R715,000.

The Highland Gate estate spans 700ha, of which only 30ha will be developed. The residential component consists of 455 prime stands, ranging from 770m² to 1,900m² in size, with the remainder of the property left in its natural state for residents to enjoy.

Highland Gate is the perfect weekend retreat for outdoor enthusiasts: the focus is not only on the championship-level golf course but also the wealth of leisure activities the estate offers, including hiking trails,

An Ernie Els signature golf course, fly-fishing and other outdoor activities and never-to-be-repeated discount prices on stands (from R715,000) make this country estate an unmissable deal for families and property investors. And all of this just two and a half hours from JohannesburgWORDS AND IMAGES: SUPPLIED

The Highland Gate experiencefly-fishing, mountain biking, picnicking, swimming and bird-watching to ensure the whole family is catered for in this rare and tranquil setting.

Says Mark Corbett, CEO: Century Property Developments: “Because Century was able to obtain Highland Gate Estate at a significantly lower market value, we are able to pass on the value and offer the stands at this discounted price, which will never be repeated again. If this were a greenfield development, the stands would sell for more than R2m each. We envisage the property values to double and get to those values in the near future. Investors can also purchase properties in a syndicate, to enjoy their weekend getaway with close friends or family.

“At Century Property Developments we recognised a remarkable opportunity to leverage what we believe is one of the finest golf course designs in the country, and open it up to the public by launching a strategic investment strategy of completing the development infrastructure and constructing a new 12km tarred access road and state-of-the-art golf clubhouse, unlocking true value for investors. With these improvements and a limited number of properties available, Highland Gate is SA’s best-kept golf secret. Along with a strong operations team, we have partnered with the Ernie Els brand, thus allowing us to leverage the quality of this association and offer a world-class experience to visitors and residents.”

INVEST IN YOUR LIFESTYLESince its inception in 1975, Century Property Developments has taken the South African market by storm. Initially, the Century Group developed a series of rural shopping centres but has since expanded to develop some of the most sustainable residential estates in SA.

With Corbett at the helm, Century is revolutionising the idea of refined, sustainable living and is providing residential property investors with assets of enduring quality, integrity and value.

It is Century’s thorough understanding of the unique South African context, its core principles of financial feasibility and its visionary design aesthetic that make for consistently sound property investments.

As the only South African property developer to ever win the Best Development In the World category at the CNBC International Property Awards for several of its local projects, Century Property Developments has redefined the benchmark for secure residential lifestyle estates.

Besides Highland Gate Golf and Trout Estate, Century’s impressive property portfolio includes Waterfall Country Estate, Waterfall Hills and Waterfall Valley Retirement estates, Blue Hills Country Estate, Helderfontein Estate, The Hills Game Reserve Estate and Waterfall Equestrian Estate, where the second-most expensive property in SA was recently sold for more than R150m.

FOCUS ON HIGHLAND GATE July 17 2015

“Investors can also purchase properties in a syndicate”

INVEST IN YOUR LIFESTYLESince its inception in 1975, Century Property Developments has taken the South African market by storm. Initially, the Century Group developed a series of rural shopping centres but has since expanded to develop some of the most sustainable residential estates in SA.

With Corbett at the helm, Century is revolutionising the idea of refined, sustainable living and is providing residential property investors with assets of enduring quality, integrity and value.

It is Century’s thorough understanding of the unique South African context, its core principles of financial feasibility and its visionary design aesthetic that make for consistently sound property investments.

As the only South African property developer to ever win the Best Development In the World category at the CNBC International Property Awards for several of its local projects, Century Property Developments has redefined the benchmark for secure residential lifestyle estates.

Besides Highland Gate Golf and Trout Estate, Century’s impressive property portfolio includes Waterfall Country Estate, Waterfall Hills and Waterfall Valley Retirement estates, Blue Hills Country Estate, Helderfontein Estate, The Hills Game Reserve Estate and Waterfall Equestrian Estate, where the second-most expensive property in SA was recently sold for more than R150m.

ERNIE ELS CHIPS IN

Right from the earliest design sketches, Highland Gate golf course promised to be a truly spectacular visual experience. Now, some 10 years after Ernie Els first visited this beautiful site, the course does justice both to its designer’s vision and the wonderful location.

Says Els, “Whenever I return to Highland Gate, I’m always taken aback by the sheer beauty of the place. There is a grandeur to this scenery that reminds me of the Scottish Highlands; Gleneagles, for instance. It has that same epic scale with expansive views that seem to go on forever. And the cool-season grasses we have here bless the course with an amazing vibrancy. Take it from me, a world-class golf course in such a unique and special setting is a rare combination.”

As a test of golf, Highland Gate is challenging and fair, with dramatic changes in elevation that add aesthetic and strategic value. Multiple tees and strategic hazard placement means it is the kind of layout that can be enjoyed by players of all standards, which is one of the defining principles of the Ernie Els design philosophy. From the back tees it is, quite rightly, a test for the best.

“Another of the things I love about Highland Gate,” says Els, “is that with every hole you play the views go in different directions. In terms of conditioning, the attention to detail is of the highest standard and the quality of the greens is right up there with the very best putting surfaces in the world. The feedback we’ve had indicates that it is the sort of course that people want to play over and over. As a golf course designer, that’s music to my ears.

“When you hear golfers say they were torn between hitting their next shot or pausing to take a photo of the golf course or the surrounding scenery, you know it has to be a very special place. Highland Gate is definitely that kind of place.”

GET IN TOUCH The Highland Gate development is on show daily, 9am–5pm.

For more information contact:Rob Emett 082 882 5087 rob@century.co.zacentury.co.za

For golf bookings, contact The Pro Shop on 087 808 6078 or email golfbookings@ highlandgate.co.za.

HIGHLAND GATE ESTATE AMONG SA’S TOP 10

Highland Gate Golf and Trout Estate has been recognised as one of the country’s top estates in the first New World Wealth survey of the top 10 residential estates in SA.

Seven of the top 10 estates are in the Western Cape, proving the high calibre of the Highland Gate experience.

The criteria that were taken into consideration included value for money and resale potential; security; scenery and wildlife; quality and design of houses; home sizes; facilities such as spas, parks, shops, schools, restaurants and bars; and activities, such as golf, equestrian, walking trails and fishing.

“Highland Gate is an extraordinary development offering purchasers a terrific investment opportunity with leisure facilities for the whole family,” says Mark Corbett, CEO of Century Property Developments.

Beating the likes of Blair Atholl and the new Steyn City, Highland Gate is set to become the latest successful Century development to sell out in record time.

DURBAN CBD Friday July 17 2015

L ast year Durban-born property developer Jonathan Liebmann’s

Propertuity group identified downtown Morrison Street as its urban regeneration starting point and, partnering with the eThekwini municipality and a committed team of local architects, artists, entrepreneurial spirits and urbanists, timed the first phase of the development to coincide with the International Union of Architects World Congress held in Durban.

It turned the CBD from a degenerating near no-go “motor town” zone into a dynamic multicultural draw card, and 8 Morrison Street, Rivertown was the place to be — and to be seen. Propertuity has an established name for a gritty style of urban redevelopment and industrial conversion.

But Liebmann’s intention was not to recreate Maboneng in Durban but to leverage off the elements that hold the essence of this coastal city and create a revitalised, uplifted neighbourhood and community.

MORRISON STREET Phase 1 of the Morrison Street Precinct involved the conversion of a 160-year-old 800m2 warehouse into a vibrant exhibition space hosting art, design and community-related events.

It was followed by phase 2, the commercial component, a development of 52 retail and office pods. The latter development consists of multiple single, double and triple pods with a mezzanine level. Retail pods will populate the ground floor, and office and shared boardroom facilities will take up the first floor.

“We are specifically aiming at start-ups and entrepreneurs,” says Liebmann, “as well as small

to medium-sized enterprises in the hope of stimulating a new and dynamic creative economy for Durban. This includes but is not limited to fashion and apparel retailers, photographers, craftsmen and -women, technology start-ups and a micro coffee roastery.”

The office pods are rented out from R2,500 a month, while the retail pods begin at R2,900. The vision for the co-working space, according to Liebmann, “is to provide a space where creatives, professionals and entrepreneurs can network, socialise, brainstorm and collaborate in a truly urban environment”. There is a waiting list for the retail and commercial pods.

DR PIXLEY KASEME STREETPropertuity then moved firmly into the residential space with the reworking of the art deco building now known as Pixley House, in Dr Pixley Kaseme Street (formerly West Street), into 125 flats, which are selling from R360,000. They have been well received by buyers and investors alike.

Pixley House is the first of a number of upcoming developments for the CBD and will be followed by Pioneer Place and 320 Pixley (formerly the 32-storey 320 West Street building), which are being redeveloped and repositioned as premium urban offices and workspaces with retail components.

This sector of the CBD is destined to be transformed into a pedestrian-dominated linear park and public transport hub, so the site for this mixed-use development couldn’t be more convenient. It’s creating a new, desirable neighbourhood, accessible to everything.

The plans for 320 Pixley affect everything from the second floor right up to the rooftop. The vision

It happened in the Maboneng Precinct in downtown Johannesburg, so why not Durban’s inner city? Durbanites are watching as their CBD landscape is reinvented as a vibrant mixed-use economic zone

Putting ‘urban’ back into Durban

WORDS: ANNE SCHAUFFER :: PHOTOS: SUPPLIED

Propertuity has an established name for a gritty style of urban redevelopment

and industrial conversion

DURBAN CBD Friday July 17 2015

to medium-sized enterprises in the hope of stimulating a new and dynamic creative economy for Durban. This includes but is not limited to fashion and apparel retailers, photographers, craftsmen and -women, technology start-ups and a micro coffee roastery.”

The office pods are rented out from R2,500 a month, while the retail pods begin at R2,900. The vision for the co-working space, according to Liebmann, “is to provide a space where creatives, professionals and entrepreneurs can network, socialise, brainstorm and collaborate in a truly urban environment”. There is a waiting list for the retail and commercial pods.

DR PIXLEY KASEME STREETPropertuity then moved firmly into the residential space with the reworking of the art deco building now known as Pixley House, in Dr Pixley Kaseme Street (formerly West Street), into 125 flats, which are selling from R360,000. They have been well received by buyers and investors alike.

Pixley House is the first of a number of upcoming developments for the CBD and will be followed by Pioneer Place and 320 Pixley (formerly the 32-storey 320 West Street building), which are being redeveloped and repositioned as premium urban offices and workspaces with retail components.

This sector of the CBD is destined to be transformed into a pedestrian-dominated linear park and public transport hub, so the site for this mixed-use development couldn’t be more convenient. It’s creating a new, desirable neighbourhood, accessible to everything.

The plans for 320 Pixley affect everything from the second floor right up to the rooftop. The vision

“Propertuity has partnered with Delta Property Group on a number of inner-city projects … They’re proposing an Adopt-a-Lane campaign to encourage building owners and local businesses to take pride in the public spaces bordering their enterprises”

is to provide lifestyle and community spaces, including soccer pitches, restaurants, rooftop bars and health and fitness facilities.

The building will allow for the coexistence of both small and large businesses and will provide leisure spaces for interaction between tenants. A jungle terrace will introduce green spaces for the interior.

It has recently been released to the rental market. Options range from 25m2 to about 1,200m2 and rentals start at R2,500 (excluding VAT) a month, unfurnished.

INNER-CITY REVIVALThe regeneration of the CBD includes a host of other, less-definable issues, including attitudes.

Propertuity has partnered with Delta Property Group on a number of inner-city projects. Especially encouraging are their plans for the cleaning, securing and general upgrading of public spaces. They’re proposing an Adopt-a-Lane campaign to encourage building owners and local businesses to take pride in the public spaces bordering their enterprises.

There are a number of conditions to consider, of course. The revival of the inner city needs to be undertaken with sensitivity to the needs of those who live and work there, and it needs to function well, provide smooth access and proximity to transport and accessibility to leisure options. It must also be affordable for start-ups while offering sophisticated options for established commercial and retail enterprises.

Most important — and most encouraging — is the growing interest and accompanying pride in the CBD, both in the local and broader community of Durban. That’s the seed we need for growth.

INTERNATIONAL Friday July 17 2015

WORDS: DAVID A STEYNBERG :: PHOTOS: ISTOCK

“In the history of Greece we cannot recall such an enormous declination of prices in such a short period of time” Stavroula Vamvaka, broker/owner, Athens RE/MAX NewDeal Group

Is now the time to invest in Greek property? With potential property owners

becoming tenants, the door may have been left open for foreign investors in Greek property

Greece’s recent “no” vote was unpacked by political analysts,

economists and social commentators all of last week. The similarities between Greece’s and SA’s excessive spending, large public service bill and political unaccountability have been written and spoken about at length too. But from a property perspective, the situation in Greece has been dire since the 2010 debt crisis, with the home ownership rate dropping from 77% in 2010 to 75.8% in January 2014.

UNPRECEDENTED DECLINE The past six months of 2014 saw the residential market posting positive growth, but according to Stavroula Vamvaka, broker/owner of the Athens RE/MAX NewDeal group, the decline in prices in the past few years was unprecedented. “In the history of Greece we cannot recall such an enormous declination of prices in such a short period of time,” she says. “Since the crisis began there has been a 40% to 60% drop in property prices.”

Countrywide the average price per square metre for a villa ranges from €3,000 to €7,000 (about R41,700 to R97,300) and for condos and flats in need of renovation it is between €600 and €1,200

(about R8,300 and R16,600) a square metre. “The price of newly built condos and flats ranges from €1,500 to €2,500 [about R20,900 to R34,700] a square metre,” says Vamvaka, noting that location still plays a role.

Pockets in Athens that continue to perform well include the southern areas such as Glyfada, Voula and Vouliagmeni, but none is showing house price growth. As a result, Greeks have become sellers and tenants instead of property owners, with sales falling by 70% between 2010 and 2014.

“Our office had a decrease of 50%,” says Vamvaka, noting that it is handling 2,000 properties for sale. The number of sellers has overtaken that of buyers, she says. Prices across Athens range from €69,000 (about R959,200) for a 40m2 detached house to the east of Athens to €850,000 (about R11.8m) for a four-bedroom, 330m2 detached house in the north of the city.

PROPERTY INVESTMENT

OPPORTUNITIESWith the property market having surely hit rock bottom, there do exist investment opportunities, especially since the rental pool will grow busier for property investors. “Rental accommodation has

increased significantly across Athens since 2010, when the potential buyers turned into potential tenants,” says Vamvaka, adding that rental returns are often significant. “The return that investment property has in Greece is attractive — it is calculated to range from 6% to 10%, depending on location.”

The slowdown has been caused by a range of factors, including high property taxes, the depression, unemployment and despair. “The average Greek can’t afford to see property as a viable investment,” says Vamvaka. But foreign

The Greek debt crisis in numbers Between 2010 and 2014:

25% unemployment

GDP per capita fell from

$22,000 to $18,000

Home ownership dropped from

77% to 75.8%

Property sales fell by

70%

investors can take advantage of the situation: “There aren’t any restrictions on foreign property ownership. There are some criteria, however. And buying a property that costs more than €250,000 (about R3.5m) in Greece offers a special advantage: the acquisition of a residence permit, which can be very useful for people who need constant access to the EU.”

For foreign investors who don’t mind a little risk, the uncertainty posed by the financial situation in Greece could turn out to be the perfect opportunity.

INTERNATIONAL Friday July 17 2015

WORDS: LEA JACOBS :: PHOTOS: ISTOCK

The price of a passportLooking for a new life in a new country? Choose your citizen investment programme

CITIZEN INVESTMENT PROGRAMMES WORLDWIDE

Grenada citizen investment programme, Caribbean: real estate investment of $310,000 (about R3.8m)

St Kitts and Nevis investment programme, Caribbean: many options, including real estate investment of $400,000 (about R5m)

Malta, Europe: real estate investment of €350,000 (about R4.8m) or renting a property to the value of €16,000 (about R223,000) a year

Portugal, Europe: real estate investment of €500,000 (about R7m) or an investment of €1m (about R14m) by establishing a Portuguese company that employs a minimum of 10 people

US: investment of at least $500,000 (about R6.3m) in a US development project that creates jobs for Americans and provides incentives for development in high-unemployment areas

A s the Beatles famously sang, money can’t buy you love. It can,

however, buy you a new life in another country, thanks to the various citizen investment programmes on offer around the world.

CARIBBEAN COOLThe idea of living on an exotic Caribbean island or somewhere in Europe can be incredibly appealing, particularly if part of the deal includes tax breaks and a new passport. The Caribbean is renowned as a tax haven and has been attracting savvy investors for years.

The island of Grenada, for instance, doesn’t tax income earned outside the country, and citizenship entails visa-free travel to 115 countries, including Britain and the European Schengen regions. The Grenada citizen investment programme is available only through real estate investment, which until recently was pinned at $500,000 (about R6.3m). However, this has been changed to $310,000 (about R3.8m). The island enjoys the best infrastructure in the Caribbean and has a number of good international schools. The official language is English. Ready to move?

The St Kitts and Nevis investment programme, also in the Caribbean, is one of the oldest of its kind. It involves visa-free travel and tax incentives and streamlines matters by not requiring an interview process. This means that applications can be handled offshore, and there are no minimum educational requirements for those looking to sign up for the programme.

The application process takes roughly four months to complete and includes dependants under the age of 25.

Although there are various ways in which to secure citizenship, one of the more popular methods appears to be the real estate route, which requires a minimum investment of $400,000 (about R5m).

EUROPEAN OPTIONSThe tiny island of Malta, situated about 80km south of Italy, has a great deal to offer those who can afford to buy into its citizen investment programme. Although Malta measures just 316km2, it has a population of about 450,000 people and an advanced economy. The standard of living is

good and the price of food compares favourably with other European countries. Foreigners are taxed a flat rate of 15% a year, subject to a minimum of €15,000 (about R209,000) a year.

Citizenship via investment is a fairly new concept to this country, but it is available to those who meet the required minimum financial requirements, including a real estate investment of a minimum of €350,000 (about R4.8m), or renting a property to the value of €16,000 (about R223,000) a year.

Portugal is ideal for those who want to enjoy all that the EU has to offer without having to reside in the country permanently. The Portuguese residence programme (also referred to as a Golden Visa) presents investors with two options: either a €1m (about R14m) investment through establishing a Portuguese company that employs a minimum of 10 people, or investing a minimum of €500,000 (about R7m) in real estate.

Part of the beauty of living in Portugal is the cost of living, which by European standards is low. The demand for property is driving prices up, but when compared with other countries within the EU, it is still affordable. Although there has been an increase in crime, this is mainly linked to pickpockets and other petty criminals in the more popular tourist destinations, and according to the 2012 Global Peace Index rankings, Portugal is the 16th most peaceful country in the world.

THE US OPTIONThe US has strict immigration laws, but there is a way to secure a green card through investment.

The fifth employment-based preference visa (EB-5) investment programme can provide immigrants with a green card, providing they invest at least $500,000 (about R6.3m) in a US development project.

The programme requires that projects create jobs for Americans and provides incentives for development in areas that are plagued by high unemployment. It is worth noting that the number of green cards allocated yearly is limited.

So there you have it: options to relocate to the Caribbean, Europe or the US — if you don’t mind paying for it.

“Portugal is ideal for those who want to enjoy all that the EU has to offer without having to reside in the country permanently”

“There is a way to secure a green card through investment. The fifth employment-based preference visa (EB-5) investment programme can

provide immigrants with a green card, providing they invest at least

$500,000 (about R6.3m) in a US development project”

Whether you are a first-time buyer or not, we’ll make finding your home sweet home quick and easy with the Nedbank Home Buyer’s Guide. For the full guide and video visit Nedbank.co.za/Homeloans.

Go to nedbank.co.za/homeloans for all you need to know, from the loan application to moving in.

nedbank.co.za Nedbank Limited Reg No 1951/000009/06. Authorised financial services and registered credit provider (NCRCP16).

Home loanChapter 8

application process

1. APPLY FOR YOUR HOME LOAN

Home loanChapter 8

application process

2. GET A BOND APPROVAL

Home loanChapter 8

application process

3. VALUATION OF YOUR DREAM HOME

Home loanChapter 8

application process

4. LOAN IS APPROVED

Home loanChapter 8

application process

5. BOND REGISTRATION

Home loanChapter 8

application process

6. HOME OWNERSHIP

9168

MAKE

HAPPEN

HOME LOANS IN SIX SIMPLE STEPS

MarketplaceHOMEFRONT

From sea to suburb to city, the country’s most beautiful

homes await you

Take your business to the next level, with ours. As South Africa’s largest property publishers, we’ve got more than 20 years’ experience in the industry. We offer end-to-end custom creative solutions across a platform of channels and on a large scale nationally. We’re cost-efficient and highly effective at managing your logistics.

Why wait any longer? Email us today: contactus@thecreativegroup.info.

CONTENT MARKETING / CUSTOM MAGAZINES / ONLINE STRATEGY / DISTRIBUTION

The entrepreneur always searches for change, responds to it, and exploits it as an opportunityPeter Drucker — writer, professor, management consultant and self-described “social ecologist”

Anne Beedle 083 302 3842 | anne.beedle@everitt.co.za | Marlene Johnson 082 342 3538 | marlene.johnson@everitt.co.za | Sandton Office 011 463 2033

R22 000 000Web Ref: 3294979Bryanston

Bedrooms: 4 | Baths: 4 | Garages: 4An imposing and unique, state-of-the-art home in a quiet cul-de-sac. The epitome of design and craftsmanship by Simmy Theodorou completes the luxury lifestyle of this magnificent home. This designer home is dominated by large picture windows with it’s soaring entrance, flowing effortlessly into the open plan living area. An additional feature to this impressive home is it’s New York style apartment with its own entrance which offers the same extravagant finishes as the main home.

Rebecca Pretorius 084 219 7915 | rebecca.pretorius@everitt.co.za | Jared Watney 072 616 8853 | jared.watney@everitt.co.za | Randburg Office 011 801 2500

R5 250 000Web Ref: 3295298Parkhurst

Bedrooms: 4 | Baths: 4 | Garages: 2Perfectly situated this home boasts four large bedrooms all en-suite of which one of these bedrooms is a fully self contained flat with a separate entrance. You will always have a feeling of freedom with the dividing doors throughout the home leading to an entertainment area with built in fireplace and pool. Warm up in the cold winter time with the central gas fire and turn on the underfloor heating. You will feel secure due to up to date security with cameras, electric fencing and beams.

Home Loans

In association with

Rise above the rest in the leader board by playing our virtual game and win real life prizes

HOUZZ-IT!

HOUZZ-IT!VISIT HOUZZ-IT.CO.ZA / HOUZZIT.GAME

A SOUTH AFRICAN FIRST! HOUZZ-IT SHOWS YOU HOW TO MAKE IT BIG IN PROPERTY

Safe. Secure.

Surrounded by nature.

Visit the latest apartments on Saturday and Sunday

SHOW APARTMENT

Unit 12018, The Houghton on the 12th, 53 2nd Avenue, Houghton

Office – 011 034 2201 || Alan Becker – 082 718 8100

Email – alan@thehoughton.com

ON SHOW DAILY – LIFESTYLE OPPORTUNITIES FROM R3,9 MILLION

THE MARKET IS NOW UNDERSTANDING THE HOUGHTON

AND ITS LUXURIOUS WAY OF LIFE.

LIMITED APARTMENTS LEFT – DON’T LOSE OUT

Live with the stars at your doorstep

RESIDENTIAL SALES & MARKETING • RENTALS • DEVELOPMENTS • HOME LOANS

WESTERN CAPE

UNDERSTATED ELEGANCE

The epitome of sophistication and elegance awaits.Uninterrupted panoramic views overlookingClifton and Camps Bay. Step into triple volume reception rooms flowing effortlessly to coveredpatio, large level landscaped garden and sparklingswimming pool. 5 grandiose bedroom suites, gamesroom and wine cellar. Convenience of an elevator,garaging for 8 cars and double staff accommodationwith own kitchen. State of the art security system,central air conditioning and generator. This majestichome will take your breath away.

BEDROOMS: 5 BATHROOMS: 5

Glenn Goldberg 083 658 3427Stacey Janit 076 337 4888Sandra Scher 083 456 2737

Web Ref: 92445

GAUTENG

SURROUNDED BY PEACE ANDTRANQUILITY

Comfortably nestled on a prime position stand inan exclusive sought after area in the Estate, this exclusive family home is set in a lush haven of tranquillity and privacy. . . Enter this magnificenthome through a double volume entrance hall allowing streams of light. Gourmet kitchen, formaldining room, formal lounge, TV room/playroom,enormous bar & entertainment room with Jacuzzi& sound room, all opening onto an entertainer’spatio, landscaped garden and swimming pool.

BEDROOMS: 4 BATHROOMS: 4

Brian Hickson 083 405 0000Tracy Stuart 082 921 3980

Web Ref: 92194

GAUTENG

UNCOMPROMISING QUALITY

Superior design with high end finishes and fixturesthroughout. On 933 sq m this spacious Cluster, classical in design, boasts a double volume entrancehall, 3 reception rooms, a pyjama lounge and 4 bed-room suites. An established private garden, pool,luxurious covered patio, double staff accommodationand 3 garages add value.

BEDROOMS: 4 BATHROOMS: 4

Joan Mendelsohn 083 267 3124Lynne Baker 082 493 1006

Web Ref: 91204

KYALAMI ESTATER15.995 million

CLIFTON POA

ATHOLL R13.5 million