Real Estate Investor Magazine South Africa July 2014 | Page 39

COMMERCIAL

These were the results of research compiled by
Investment Property Databank (IPD) and released by
the Property Sector Charter Council. Using research
from Statistics South Africa, the council pegs the
overall size of the property sector (including different
sectors) at R4.9 trillion. This represents the first and
second phases of the report, measuring the size of
the property market‚ and its financial and economic
revenue. The third phase‚ currently underway‚ measures
and analyses transformation using broad-based black
economic empowerment tools‚ with eight elements
contained in the property sector code.

Transformation of the industry
South Africa’s Human Settlements Minister Connie
September says only about 10% of the 40 000 estate
agents currently registered are black, while the average
age of estate agents is currently 58. The ‘One Learner
- One Estate Agency’ internship programme recently
launched by the Department of Human Settlements
and the EAAB (Estate Agency Affairs Board), aims to
create an internship position for young people (below
35 years of age), women and previously disadvantaged
people, at each of the estimated 10 000 estate agencies
in South Africa. The programme will run over three
years, enabling school-leaving learners and tertiary
students to become one of 10 000 new real estate agents.
The project will consist of a mandatory year-long
internship but the Services Seta has yet to determine
the funding and disbursement mechanisms which will
fund the internships.

needs focus, not only by SAPOA, but by all members
of the industry.
Beattie holds a BCom in Financial Accounting and
Transport economics, and a Certificate in Shopping
Centre Management, and has been active in the
commercial property sector for over 15 years. She is
currently Chief Investment Officer - Direct Property
Investments at Stanlib and serves on the board of
Cullinan (Pty) Ltd. The recipient of the Women’s
Property Network (WPN) Nedbank 5-Star Woman
Award, she is a past National Chair of the WPN and a
trustee of the WPN Education Trust.
Speaking at the SAPOA Convention, Beattie urged
delegates to remember to keep the “real” in real estate.
She has set out to keep SAPOA’s goals ‘real’ under
her stewardship, and centred them