Navigating the property industry as a first-time home buyer can be nerve-wracking and overwhelming, and the thought of making a mistake with such a large investment can be enormously stressful. In this article, we unpack the most common mistakes made by first-time property buyers and provide advice on how to avoid them. 1. Not understanding your affordability Before house-hunting, it is important to ensure...

PayProp’s quarterly Rental Index shows continued growth in the residential rental market into the third quarter of 2022. During the most recent quarter (Q3 2022), rents increased by 2.9% year on year, the strongest performance since Q1 2020. This meant the average national rent increased from R7 800 in Q3 2021 to R8 023 in Q3 2022, making it the first quarter in which this figure broke through the R8 000...

How do I know that an ethical Accreditation Centre is representing me?It is difficult to turn down a “cheap” course – how are you to know that there are providers in the industry selling cheap RPL courses to agents who do not qualify and cannot complete them?Certain costs must be carried out when delivering a qualification.  Your course must be current with the legislation of that industry, and...

September 2022 hotel revenues – year-on-year growth still strong off a low base as post-lockdown recovery continues, but hotel income level still falls short of “fully recovered” status, remaining significantly weaker than pre-lockdown levels. The StatsSA release of September 2022 preliminary monthly tourism statistics showed the Hotel Sector’s income levels making further progress on the...

A university city, Bloemfontein’s residential property market enjoys the spin-offs of its well-established educational infrastructure by way of accommodation for students, employees, associated services and the investment by parents, says Pam Golding Properties area principal, Ulrich Sirgel. The University of the Free State has a total of 41 169 students, 29 560 of whom are on the Bloemfontein campus and...

New DeadlineThe PPRA/EAAB has extended the deadline from 31 January 2023 to 30 June 2023. All candidates must meet this deadline as it will not be extended again.Who is the deadline for?When you receive your first FFC you must submit your Logbook within the first 12 months, and within a total of 24 months you must be found competent in your NQF4 and your PDE4.You will then need to comply with CPD the year...

Cape Town and the surrounding coastal towns and villages boast a significant short-term rental market which is set to once again boom this summer as local and international visitors are finally set to return in their number. Ross Levin, MD for Seeff Atlantic Seaboard and City Bowl, says this could be a massive summer season for Cape Town with rates and occupancies expected to reach, and possibly exceed...

While consumers are justifiably concerned about another interest rate hike this month, ahead of the festive season, the Reserve Bank’s timeous response to inflation means we could see rates drop again towards the end of 2023, says Carl Coetzee, CEO of BetterBond. “There’s no denying that South Africans are feeling the pinch, and another repo rate hike this month will be our seventh consecutive...

To become a principal property practitioner in South Africa and own your real estate firm, you must comply with the controlling regulatory authority, The Property Practitioners Regulatory Authority.  The PPRA was previously known as The Estate Agents Affairs Board, the EAAB.  The Property Practitioners Act No 22 of 2019 was promulgated in February 2022.  Agents/Practitioners are also...

10 Tips on Writing your PDE Don’t study using everyone’s handed-down crash course material; this will just have you spinning with unanswered questions and outdated material. This exam is online; when the PPRA refer to a “seat number” please ignore this. Make sure your mic and webcam work. Don’t have a webcam? Go buy one! Don’t talk to others during your exam; you need to be alone in a...

Any person facilitating or providing a service in the sale or lease of property in any way and does not use the services of a property practitioner must hold a Fidelity Fund Certificate (FFC) through the Property Practitioners Regulatory Authority (PPRA) formally known as the EAAB. Business undertakings shall include any activity, whether sold as a whole or going concern, or as part of a business, or by...