Seven of SA's priciest properties

Castles and beach houses are at the top of the list. Photos included.

With property prices like R60m not being unusual for a beach bungalow or a family home, estate agents say the extreme upper end of the residential property market is always buoyant.
They point out that mortgages, interest rates and transfer duties just don't affect these buyers with deep pockets.

According to Jan Minnie of Fine & Country, there are literally hundreds of luxurious top-end properties being bought and sold at the moment but because they aren't advertised, most people don't know about them.

Usually, interested buyers contact estate agencies, explaining what type of property they're looking for and the amount of money they'd be prepared to spend and these requests are then matched with available properties on a database, explained Siobhan O'Shea of Engel & Volkers.

Read more at MoneyWeb.co.za

Another cut in transfer duties?

What experts expect from next week’s Budget speech

Transfer duties on property sales are expected to be reduced slightly in next week's Budget but the move will be nowhere near the significant reduction announced last year.

This is the view of many property players on what Finance Minister Trevor Manuel will state in the 11th annual Budget on February 21 2007.

Last year, Manuel increased the transfer duty threshold from R190 000 to R500 000.

Read more at MoneyWeb.co.za