Expropriation without compensation will hurt municipalities, property associations warn
Sareit and Sapoa say constitutional amendment can lead to a drop in investment and property values
23 March 2021 - 16:00
UPDATED 23 March 2021 - 19:08
SA’s major property business associations have warned that expropriation without compensation will worsen the financial difficulties of many municipalities, possibly affecting service delivery.
The SA Real Estate Investment Trust Association (Sareit), which represents all real estate businesses listed on the JSE and the SA Property Owners Association (Sapoa), the representative body for commercial and industrial property, told parliamentarians that expropriation without compensation can lead to a significant drop in the value of properties and investment...
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