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Meltdown: Nigeria in context of global response to impact on real estate

CHUKA UROKO business day 08.06.2009

As the global economic crisis persists, different countries of the world have devised measures for responding to its impact on real estate. CHUKA UROKO writes that top of these measures are cuts in interest rates on mortgage lending and housing loans

Property market will continue to fall: Survey in South Africa The Times 02.03.2009	South Africa property market 'struggling to recover' Property Show Rooms 28.02.2009
Fifty percent of South Africans feel that the property market will continue its downward trend until the end of this year, according to the results of an online survey released by mortgage originators ooba.	South Africa's property market is struggling to recover from the economic downturn, despite not being hit as badly as some other international real estate sectors, a new report has revealed
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Sharp decline in new FNB home loans Xolile Bhengu The Times 04.04.2008	New top appointment at Integer Myproperty 02.04.2008
First National Bank yesterday said that demand for new mortgage loans was weak, and had fallen by 23.5 percent by February.	Integer, the home loan provider, has strengthened its management team with the appointment of Bruce Sneddon as Chief Financial Officer (CFO).
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Agent claim current interest rates are not historically high Myproperty 01.04.2008	Banks to beat FSC housing target Tiisetso Motsoeneng The Times 26.03.2008
A study of South African interest rate fluctuations from 1986 to the present day - a period of some 21 years - should give some serious perspective to the current market conditions, say Gideon Hanekom and Nolan Allnutt, the new Anne Porter Knight Frank agents for Kirstenhof and Tokai.	South Africa banks are confident that they will exceed the 42 billion rand low-cost housing finance origination target by year-end, an industry body said.
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Prime in lowest bracket in 21 years Property24 26.03.2008	Loopholes in Fica law to be closed Property24 26.03.2008
The property market in particular is feeling the interest rate pinch, but the current rate of 14,5% is lower than SA has had for 14 of the past 21 years. View the graph and historical interest rate data.	A number of loopholes in the anti-money laundering law are to be closed in a new amendment bill approved by Cabinet for tabling in Parliament.
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