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Human Settlements Highlights Transformation of the Property Sector

July 24, 2020

Department of Human Settlements

The transformation of the property sector remains a non-negotiable as South Africa enters the path of economic revival.

The human settlements minister, Lindiwe Sisulu, declared this during the Human Settlements Department Budget Vote 2020/21 in parliament.

The minister confirmed that the Regulations to the Property Practitioners Act will be published in 2020 to enable the operation of the Property Practitioners Regulatory Authority.

“While we seek to exceed the 30% set aside for designated groups, we must also ensure transformation across the property sector because we are convinced that the only sustainable path is that of inclusivity, broad participation and growth in the sector,” she said.

The minister also announced that the department will work with communities and municipalities to incrementally upgrade over 300 informal settlements and improve living conditions of households.

“Our policy is clear that for those informal settlements on safe ground, the first choice is to upgrade in-situ.”

The minister emphasized that the programme for the upgrading of informal settlements is strongly anchored in collaboration with resident communities.

“There can never be sustainable upgrading without the active participation and ownership of families who reside in informal settlements,” she said.

COVID-19 impact relief measures to enable the sector to survive the serious shocks and constraints brought about by the pandemic include no penalties for Estate Agencies for late submission of audited statements until 31 October 2020 and fees payable for mandatory training to be waived for the current financial year; rearrangements for loan repayment for affordable housing lenders indebted to the NHFC – details of these measures to be published by 31 July 2020 and rental relief to tenants in affordable rental housing – R600 million allocated.