People & News

Breathing space for foreigners

Land and Agriculture Minister Thoko Didiza told Business Times that she does not plan to limit non-citizens' property rights. However, the government might consider restrictions on foreigners buying land in certain areas. Because of the abysmal state of the national deeds register, the panel she appointed under the leadership of Shadrack Gutto missed the deadline for its first report on the social and economic impact of foreign purchases in South Africa. The report will now be available later this month, while the final report and its policy recommendations should be out in the second half of the year.

It is felt that restrictions would probably not have a great impact on the market despite the view that foreigners were pushing land prices out of the range of black citizens who were trying to enter the property market for the first time. To effect such a change, the government will have to review and revise the deeds register to reflect the citizenship of owners rather than their race.

Article in Sunday Times

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