Sakeliga takes the PPRA to court over BEE
According to Sakeliga CEO Piet Le Roux, it is taking legal action against the PPRA (Property Practioners Regulatory Authority). Real Estate businesses earning more than R2.5 Mil in annual turnover are now required to supply a valid and compliant BEE certificate with renewal applications of their FFC (Fidelity Fund Certificate) in 2025. With new applications it is required with immediate effect.
The issue with this is the compliancy. BEE points must be gained, and the main areas in which to gain points are ownership and skills development.
Ownership: Smaller agencies will have to sell shares to gain points.
Skills development: Missing a deadline to submit a skills plan for training to Services SETA for approval, means any training done after the deadline will not count for points for the following year.
Conclusion: Without compliancy, the PPRA will withhold agencies’ FFC certificates, seriously damaging the Industry.
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ABSA Homeowner Sentiment Index (HSI)
The HSI indicates the consumer confidence level regarding the property market in South Africa. According to the HSI there is a 4% increase in market confidence in 2024 compared to 2023.
Consumers’ confidence levels include sentiments regarding buying, selling, investing, renting and renovation. According to the HSI all these sentiments show an increase.
The conclusion of the HSI is that although the outlook for the property market remains strained, there are positive signals starting to emerge.
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TPN’s latest tenant survey
Four conclusions came to light in the latest TPN’s (Tenant Profile Network) Survey Report.
- More women renting than men
- Preferred lease structures: Lower rental escalations, and no deposit
- Security is a key consideration
- Landlords failing to make repairs
About 19,000 tenants responded to the TPN survey request.
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