Minister of Trade and Industry Ebrahim Patel briefing media on the classification of industries as part of the risk adjusted strategy on re-opening the economy as announced by President Ramaphosa. Picture: Siyabulela Duda/GCIS
Minister of Trade and Industry Ebrahim Patel briefing media on the classification of industries as part of the risk adjusted strategy on re-opening the economy as announced by President Ramaphosa. Picture: Siyabulela Duda/GCIS

Easing of Covid-19 restrictions could be a lifeline for property industry

By Vivian Warby Time of article published Apr 25, 2020

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Cape Town - The Deeds Office could reopen on Friday if a draft framework for sectors is formalised this coming week. The draft framework outlined how the different sectors will be affected by the Level 4 lockdown restrictions.

Before Friday the industry should know for sure one way or another. As it stands now the reopening of the Deeds Office has been added to Level 4 draft framework of lockdown.

According to the draft document both commercial building construction and commercial real estate will however only be permitted in Level 3, distressing news for the industry

Shortly after the draft document became available today, Vuyiswa Mutshekwane, chairperson of the newly formed National Property Practitioners Council, told Property360 that if the opening of the Deeds Office is formalised it will be ‘one big and positive move” in the right direction for the industry. 

She says however there are still a number of questions pending on how the rest of the property value chain from property managers to real estate agents will be affected.

Read more on  Property 360

* For the latest on the Covid-19 outbreak, visit IOL's special #Coronavirus page.

** If you think you have been exposed to the Covid-19 virus, please call the 24-hour hotline on 0800 029 999 or visit sacoronavirus.co.za 

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