REGULARS: QUALITY INSIGHT
SA real estate’s
new frontier
More protection is on the cards for future property buyers
with the newly-passed Property Practitioners Bill.
The Property Practitioners Bill was unanimously passed by the National Assembly end of 2018 and will introduce widespread changes to the industry.
By Sheldon Jennings
T
he South African property industry
celebrated a milestone in December
2018 when the Property
Practitioners Bill was voted on and adopted
by the National Assembly (Bill).
The Bill was opened for stakeholder
engagements in parliament and was met
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JAN - FEB 2019
CLADDING // CONCRETE // INSULATION // STEEL // THATCH // TIMBER // TRANSLUCENT // WATERPROOFING // COMPONENTS
with overall positive sentiment. This is
good news for future home buyers as it
moves us one step closer to regulating the
conduct of estate agents, bond brokers,
home inspectors, property managers and
developers – an area in which regulation
was previously lacking in South Africa.
I recently attended a session along with
representatives from Real Estate Business
Owners of South Africa (REBOSA), the
Independent Regulatory Board for Auditors
(IRBA), South African Institute of Chartered
Accountants (SAICA), the Banking
Association of South Africa (BASA), and the
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