property | SA Radio .com

First Gupta house under the hammer – property apparently occupied by controversial ANC secretary general Ace Magashule’s son

Posted on 11/11/2019 Leave a comment

The first of a number of homes in Saxonword that belong to the Guptas is auctioned by the Park Village auctioneers.

The property was occupied by the son of the First Gupta house under the hammer – property apparently occupied by controversial ANC secretary general Ace Magashule’s son, who initially refused to leave the premises.

Law enforcement officers, however, threatened the Magashule with steps because of its legal obstruction.

The residential unit located in Avonwold Road will go under the hammer on Monday, November 18, and the luxury space, which covers more than 1,100 square meters, is expected to sell for a considerable amount.

Neighborhood housing prices range from R3m to R20m, and are considered one of the most sought after parts of Johannesburg.

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Prasa may lose 13 unused locomotives worth R2.6 billion due to dispute over ownership

Posted on 10/09/2019 Leave a comment

The thirteen locomotives that are not suitable for driving on the South African rail network because the huge machines are too high will now become a dispute over whose property it is.

The 13 Afro-4000 locomotives are now in the balance and Prasa will have to fight to make them his property, informed sources said.
The extremely expensive locomotives generated prominence when it became known that they were too high to move on certain rail lines, for which they were purchased.

The amount of R2.6 billion is up for grabs and will probably have to decide in court who owns Prasa or Swifambo.

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Political condition of SA compels owners to get rid of properties in wealthy suburbs of Cape Town – prices are now down to 50%

Posted on 08/08/2019 Leave a comment

Property prices in the rich suburbs of Cape Town have dropped by up to 50% of the initial selling price. Sellers in neighborhoods like Constantia and the Atlantic have dropped their prices between 20% and 50% in an effort to get rid of the property.

Real estate brokers report that the slightly upward flash after the election was overtaken by reality with a 15% decline in valuations.

Homes in the upper segment of the market were usually sold within 75 days while the trend is now 126 days. Even at the popular Waterfront Marina, property prices fell 24% this year alone.

Experts are wary of linking the country’s political situation to the trend, but the demand for homes, even in Cape Town, has declined because of the uncertain economic and political climate of rough South Africa.
-Vryburger

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Political condition of SA compels owners to get rid of properties in wealthy suburbs of Cape Town – prices are now down to 50%

Posted on 08/08/2019 Leave a comment

Property prices in the rich suburbs of Cape Town have dropped by up to 50% of the initial selling price. Sellers in neighborhoods like Constantia and the Atlantic have dropped their prices between 20% and 50% in an effort to get rid of the property.

Real estate brokers report that the slightly upward flash after the election was overtaken by reality with a 15% decline in valuations.

Homes in the upper segment of the market were usually sold within 75 days while the trend is now 126 days. Even at the popular Waterfront Marina, property prices fell 24% this year alone.

Experts are wary of linking the country’s political situation to the trend, but the demand for homes, even in Cape Town, has declined because of the uncertain economic and political climate of rough South Africa.
-Vryburger

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