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There are a few significant changes on the cards for the South African property sector in 2017.
The real estate industry has been placed under an uncomfortable spotlight yet again with the reported posting of a blatantly racist property advert by Dick and Sue Home Finders on the property portals.
As Finance Minister Pravin Gordhan tabled what appeared to be a pro-poor budget, he has announced that relief will be given to the affordable housing market.
A draft Property Practitioners Bill will be published by the Department of Human Settlements for public comment with a purpose of establishing a more inclusive, representative sector, towards radical economic transformation.
Department of Public Works starts renegotiating its leases with PIC as part of the government's drive to effect R25bn in savings over the medium term.
Texton Property Fund Limited (JSE:TEX), a South African real estate investment trust (REIT) has appointed Nic Morris as its Chief Executive Officer (CEO), with effect from 1 December 2016.
The National Treasury has welcomed the decision by ratings agency Standard and Poor (S&P) not to downgrade South Africa.
Construction on Sun International’s R4-billion Time Square casino and hotel development in Menlyn Maine, Tshwane, is fully on track, with the casino due to open on time in April 2017.
Moody’s rating agency is expected to announce whether it will downgrade South Africa’s economy.
SA's first valuer-general moves to allay private sector fears that his office will favour the state when determining prices for properties identified for land restitution.