Streamlining Municipal Property Transactions in South Africa for Enhanced Social Value Creation

Louie van Schalkwyk and Liezl Emsley

AfRES from African Real Estate Society (AfRES)

Abstract: Legislation governing the sale and lease of immovable property by South African municipalities to third parties is extensive, multi-faceted and often overlapping. Municipalities must also consider their overall objectives and mandate stated in the Constitution of South Africa. The central theme of these objectives is the delivery of social value to the local community. This study aims to determine to what extent legislative requirements applicable to municipal immovable property transactions support the realisation of social value objectives. This qualitative research follows a case-study approach by investigating and analysing the processes followed at two South African metropolitan municipalities when undertaking immovable property transactions. The selected municipalities are the City of Cape Town Municipality and eThekwini Municipality. The study identifies and considers municipal officials' challenges in applying the legislation. The findings illustrate how the comprehensive legislative requirements, aimed at transparency and avoiding corruption, inadvertently discourage social value creation. Recommendations are made for legislative improvements to streamline the transaction process.

Keywords: municipal property transactions; social value creation; South Africa (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024-01-01
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