We share some important industry activity with you in this Update, as follows:
- Greenwashing a development: Vague marketing jargon can land you in hot water
- Building owners must have Energy Performance Certificates by December 2022
- A local mafia targeting property developments
- FNB Barometer on proportion of purchase funded by deposits
- Urban forest: Cape Town’s progress to achieve this status
- Drafting HOA rules requiring building within a certain time: Can they be harsh?
Greenwashing a development: Vague marketing jargon can land you in hot water
Greenwashing refers to advertising and marketing that use eco-conscious jargon to represent to the public that a business is making positive environmental or sustainability choices and/or that its products, aims and policies are environmentally friendly.
Often these claims are far from accurate and border on being labelled dishonest.
Building owners must have Energy Performance Certificates by December 2022
In December 2020, the Minister of Mineral Resources and Energy published regulations for the mandatory display and submission of Energy Performance Certificates (EPC) for certain buildings.
A local mafia targeting property developments
What it is and where it comes from
The phrase “construction mafia” has recently cropped up. Although nothing new, there are a constant reporting of instances where housing projects, including private sector projects, have become vulnerable to destructive actions of certain groups.
FNB Barometer on proportion of purchase funded by deposits
The latest FNB Residential Property Barometer shows that national loan-to-price ratio – the proportion of the purchase price that lenders are willing to fund – has increased to 94.9% in the first quarter of 2022.
Urban forest: Cape Town’s progress to achieve this status
The City of Cape Town Municipality (the City) has recently issued its draft Urban Forest Policy to replace and update the Tree Management policy that has been in place since 2015.
Drafting HOA rules requiring building within a certain time: Can they be harsh?
One often assumes that very harsh penalties imposed by home owners’ associations on owners, are unfair and that a court will agree. There may be instances where this will ring true, but under the Conventional Penalties Act, there is more at play than just one side’s perception of fairness.