- Property Industry is not regulated in Eswatini; meaning anyone can set up a company and start selling property, without any proven experience or education
- Operationalization of Sectional Titles Act is believed to be the answer by industry experts
Photo Credit: http://www.remax.co.sz/ ,https://www.seeff.com/branches/eswatini/5782/
By Ntokozo Nkambule
It is no secret that property is expensive in Eswatini. The middle class in the country is finding refuge in purchasing plots in Eswatini National Land (ENL), then building their dream homes, as that is what they can afford.
Industry investigations by our sister publication Eswatini Property Review have unearthed that property (title deed property) in the country is indeed more expensive than some exclusive suburbs in Johannesburg. Seeff Eswatini’s Licensee, Anthony McGuire in an earlier interview notes the following. “In comparison to South Africa, an average residential property in Eswatini is generally priced significantly higher even when compared to exclusive suburbs in Johannesburg. This has been mainly due to the absence of a competitive sectional title market that can offer an alternative” he observes. McGuire further notes that the biggest market in the country is the middle class, and the operationalization of Sectional Title will undoubtedly have a positive impact on property prices.
The lack of property regulation is another major stumbling block for the industry. As it stands anyone can register a company and start selling property, without any experience or education. Elroy Jonhston, Remax Eswatini Broker states that lack of property regulation is what has brought the industry to where it is today. He says that as much as we are a free-market economy, it is, however, important to have checks and balances. “We must remember that when we talk property, we are referring not only to estate agents, but, property valuers, conveyancers, property developers, and financiers among others. So, if all these disciplines are not accountable, what is likely to
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