It has been a little more than a decade since the German real estate group Engel & Völkers sold their first Licence Territory outside of Germany and expanded to South Africa. It is now 13 years later, and as they celebrate the signing of the initial country licence agreement in June 2003, they also take the time to reflect back on the positive growth that the brand has seen, and even more so, the excitement of things to still come. Engel & Völkers Southern Africa saw an explosion in the brand. “It was definitely the right move to expand the German brand into Southern Africa, bringing with it the unique systems, training and professionalism which the company has been developing for almost 40 years” explained Craig Hutchison, CEO of Engel & Völkers Southern Africa. “Our success is thanks to a dedicated team of staff, who are all passionate about the business and the brand. Each individual in our company live by our principals of offering an exceptionally high level of serv...

Set your PHD, Masters and degrees aside- and show me your NQF4 Back in the day the “Property Agent” title was deemed to be a part time solution for additional income, since then the industry has attracted the entrepreneur and ambitious wanting to be educated in the property trade. “Agents are now considered property specialists and community bodies, controlling overall the value of each suburb by representation” claims Craig Hutchison, CEO of Engel & Völkers Southern Africa . Being a property specialist has changed a lot over the years as the industry has evolved and regulating authorities been put in place to manage the industry and ensure a standard of service. The new criteria for obtaining the right to sell property professionally include having to work a full year's internship, building a portfolio and having to abide by all regulations set out by the EAAB (The Estate Agency Affairs Board).  The required licences according to law is to at least have an NQF4 certification...

Owning a property and knowing its value is as important as knowing your ID number these days. If it is an investment you take seriously and you would like to know the value of your holding, one should get a professional opinion on a property valuation. “A property valuation is an estimated market value of a property, determined using a sophisticated statistical calculation” informed Craig Hutchison, CEO of Engel & Völkers Southern Africa . Not only will the price of your home get influenced by what is happening, on the political stage of the country you live in, the area and surrounding suburbs also play a vital role in the evaluation as well. The fact that it has easy access to highways, shopping centres and schools will have your price looking to the plus side in the ideal location. Overall the condition and upkeep of your property is one of the biggest factors which result in home owners losing money when the opportunity for sale presents itself. It’s always best to consult...

What influences cause property values to increase Why investing in property is the best way to go?  When you buy your first home the usual motivation is to acquire your own property, rather than paying someone else's bond and of course you then have your independence. Most youngsters seek freedom from living at home and having to abide by family household rules. “The very idea of buying their own home is exciting and they often do not realise what a wonderful investment they are making. This is the start of their financial independence” Craig Hutchison, CEO of Engel & Völkers Southern Africa stated. According to the FNB House Price Index, the average house price for April 2015 rose 5.0% year-on-year. Despite the nominal house price inflation slowdown, however, recent months' house prices continue to grow positively in real terms, when adjusted for CPI inflation. Due to the slower house price growth, this creates opportunities for the lower income buyers as the pric...

Tax benefits of home ownership BY KATHY EAST Those home owners who buy a property with the idea of writing off expenses to reduce their personal tax, should be very clear on what the law states. They should also have clarity on current legislative and administrative changes that impact the SA property industry.  If you own and live in a residential home, there are no tax benefits. Before you invest in a property with the idea of benefiting from any costs, consult a tax consultant, your auditor, wealth managers/companies, or visit your local SARS office to get their expertise first hand. As advised by Craig Hutchison, CEO of Engel & Völkers Southern Africa “We are all responsible for our own finances, and we need to be clear on and fully understand what we are investing our hard-earned money in.  Also, you need to know if this would be a short-term or long-term investment that you are planning. An investment in property is possibly the largest investment you will ev...