Engel & Völkers Licence Partner South Africa > Blog > Engel & Völkers Response on Budget 2020

Engel & Völkers Response on Budget 2020

Engel & Völkers have welcomed the budget speech for 2020. Especially in respect of the threshold being raised for transfer duties on properties up to R1 million. This will have a significant effect on the first-time home buyers who will be looking in and around the price range of R1 million.

There is considerable demand for high quality properties at this price point, as it is definitely the fastest moving housing product in the market at the moment and is the most bondable from a banking perspective. “Our In-House Finance division has seen a marked increase in the success rate on applications they have processed for the International Housing Solutions deals over the past year. They are able to apply on behalf of a buyer at all the major financial institutions, which not only assists in securing the best rates, but also ensures that they get the best possible conversion to a successful deal” says Craig Hutchison, CEO Engel & Völkers Southern Africa.

At Engel & Völkers together with International Housing Solutions we have and are in the process of releasing R4 billion worth of residential projects in the price ranges of R600k to R1.4 million. All the projects are well located across South Africa and have been built to specifications that will exceed the expectations for the first-time home buyer.

Minister Tito Mboweni was bullish in the recovery of our economy by not raising the tax rates and we share his sentiments. We firmly believe we are entering a decade of sustained growth however slow it may start off.

From Centurion to Johannesburg, Midrand to Windhoek – the International Housing Solutions portfolio covers over 20 000 units throughout South Africa, Namibia, Botswana and growing on a monthly basis. All of these properties are owned by the fund, and released to the market through Engel & Völkers. Some of these current sale projects include:

  • Oak Tree Village, Centurion – From R809 000
  • Stanley Park, Oakdene – From R699 000
  • Fashion Lofts, JHB CBD – From R200 000
  • Midrand Village, Clayville – From R777 500
  • Ihlathi, Parklands – From R689 999
  • Mason, Arbour Town, Amanzimtoti – From R869 000
  • De Velde, Somerset West– From R1.1 million
  • Unilofts, Bloemfontein– From R620 000
  • The Paddocks, Fourways– From R830 000

Engel & Völkers property portfolios range from luxury to family homes and even smaller investment properties for the new homeowner. Whether buying or selling property, Engel & Völkers should be your property agent of choice.

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Engel & Völkers
Licence Partner South Africa
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