Property Practitioner Regulatory Authority launched

The launch of PPRA, which will replace the Estate Agency Affairs Board (EAAB), marks the coming into operation of the Property Practitioners Act, which is aimed at strengthening the regulatory aspect of the human settlements sector.

The new body’s main functions include, among others, to regulate the affairs of all property practitioners; to allow for transformation in the property sector; and to provide for consumer protection.

The Property Practitioners Act which governs PPRA came into effect on 1 February 2022.

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The Act provides for among other things, the regulation of property practitioners and continuation of the Estate Agents Fidelity Fund, as the Property Practitioners Fidelity Fund.

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