Department of Human Settlement call for comments by property practioners and the public on draft regulations to give effect to Property Practitioners Act
President Cyril Ramaphosa signed the Property Practitioners Act into law in September 2019, establishing the Property Practitioners Regulatory Authority as a statutory entity aimed at regulating the real estate sector.
Thus, the National Department of Human Settlements and the Estate Agency Affairs Board is calling on property practitioners (Bond Originators, Auctioneers, Trusts, Property Evaluators, and Accesors) and the public at large to comment on the draft regulations to be published in the government gazette by the Minister to come up with necessary regulations which will give effect to the commencement of the Act.
To strengthen governments efforts to transform the property market, valued at an estimated R 7, 9 Trillion, to be reflective of the country’s demographics, the regulations will also will professionalise the property market, promote it as a profession of choice, set-out administrative processes and procedures towards the implementation of the Property Practitioners Act and regulate the code of conduct of Practitioners.
To support and enhance the public comment to be received, the department will hold public information sessions in all the nine provinces from the Eastern Cape, Limpopo, Mpumalanga, North West, Kwa Zulu Natal, Northern Cape, Free State, Western Cape and end in Gauteng to ensure that more South Africans become accustomed to the content and purpose of the Regulations.
Officials from the department are visiting the Eastern Cape from today as follows:
Day 1:
Date: 11 March 2020
Time: 10h00 to 13h00
Venue: Cambridge Hall, Buffalo City Metropolitan Municipality, East London
Day 2:
Date: 12 March 2020
Time: 10h00 am to 13h00
Venue: Nelson Mandela Bay Stadium, Nelson Mandela Bay Metropolitan Municipality, Port Elizabeth
To RSVP:
Isaac Skhosana
Cell: 073 6202915
Email: Isaa.Skhosana@dhs.gov.za
For Enquiries:
Xolani Xundu
Cell: 083 788 5747
