IOL Property

Pilgrim’s Rest’s 132-year-old Royal Hotel stands empty, the latest casualty in more than a decade of problems that have seen businesses close and jobs disappear from the historic tourism town. Recent media reports say the latest attempt to secure an operator for the Royal Hotel has failed, with none of the bids meeting tender requirements. But the empty hotel is only the latest in a series of problems stretching back more than a decade.

Two South Africans each earning the average salary could, on paper, afford something remarkably close to the average home being bought by first-time buyers. But qualifying for the bond and comfortably living with it are two different things. The average South African salary earner took home R21,642 in July, according to the PayInc Net Salary Index, which tracks the take-home pay of about 2.1 million salary earners. Put two average earners together and R43,284 lands in their household each month.

A dispute involving the Apostolic Faith Mission of South Africa, a building, a changed set of locks and two people who suddenly found themselves locked out has landed in the Western Cape High Court. Dr Japie Jimmy La Poorta and Pastor Susan La Poorta approached the court urgently after the locks to a building were replaced, asking for their possession of the property to be restored.

A poor credit history does not automatically prevent a prospective tenant from securing a rental property. However, tenants should be prepared for a credit check, take steps to improve their credit standing and understand that landlords may require additional security. There are several factors tenants should consider when applying for a rental property if they have a poor credit record.

Cape Town’s city centre has quietly outgrown its traditional map. After the Foreshore, Woodstock, Salt River, and the Waterfront’s back-end warehouses transformed into hubs, the CBD is now leaning firmly towards Paarden Eiland. Maritime Place has officially launched as the very first residential apartment building in Paarden Eiland, leveraging the district’s unique industrial heritage to offer a pioneering living experience.

South Africa’s retail property market is giving tenants more room to negotiate as landlords contend with a challenging environment for new development and occupancy. This is according to Samuel Theu, national property manager at Atlas Finance, who has worked on both sides of the landlord-tenant divide. He businesses that understand what property owners need can use the current market to secure better deals.

A Western Cape High Court judgment has reinforced the legal duty on property owners to take reasonable steps to ensure their premises are safe after a heavy sliding gate fell on an eight-year-old boy, causing serious injuries. The judgment in Jones v Chilwan, delivered on August 25, found property owner Moegamat Shadley Chilwan liable for damages suffered by Reece Jones.

South Africa’s luxury property market continued to command high prices, with wealthy buyers showing strong demand for exclusive estates and sought-after suburbs despite broader economic pressures. One of the latest high-value properties to enter the market was the Park Avenue Boutique Estate in Hout Bay, which was being offered for R114 million plus VAT.

South Africa’s residential property market continued to show resilience in July, with more home loans being granted even as higher deposits put some pressure on applications, while luxury estates in Gauteng and the Western Cape continued to attract high-value buyers. BetterBond’s August Property Brief showed that the number of home loans granted increased by 4.1% year on year in July and by 28% compared with July 2024.

KwaZulu-Natal’s coastal residential belt is emerging as an attractive market for rental investors, with strong demand, limited supply, competitive yields and relatively affordable property prices supporting the sector. The KwaZulu-Natal (KZN) coastal residential belt is increasingly drawing rental investors as demand continues to outpace supply in several prime areas.