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New property code lacks proper research - estate agent body

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(iStock)
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Cape Town – The Institute of Estate Agents of South Africa (Ieasa) has expressed concern that the new amended property sector code was compiled without adequate research into the true state of affairs at the industry.

The amended Property Sector Code setting a black ownership target of 27% for property owning companies came into effect on June 28 2017. The target is higher than the 25% black ownership target of the Generic Codes.

In addition, the new sector code has set a target for established companies to financially support those that are at least 51% black-owned.

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