Transfer delays push up costs
Banks’ revised requirement that all approval certification is in place before transfer documents are submitted to the Deeds Offices is delaying new development property transfers by a month on average. So says Kim Pistor, Legal Advisor of Rabie Property Group, who warns that the costs incurred by delays will inevitably fall on consumers. Pistor says […]
Century City apartments : Profit margins are being squeezed
The profit margins of both developers and contractors have been squeezed in order to bring new developments to the market during the economic downturn, says Colin Green, a director of Rabie Property Group. Green says residential developments have been particularly hard hit following the downturn in the property market that most industry players started experiencing […]
Residential property, Cape Town : 50% of Little Moorings apartments snapped up
Nearly 50% of the 39 apartments in Little Moorings, Rabie Property Group’s latest residential development under construction at Century City, have been sold. Rabie director John Chapman said they had taken advantage of the recessionary conditions in the industry to renegotiate building contractors and this had effected significant savings which had been passed on to […]
