Changing default permalinks on WordPress

I’ve recently purchased a theme on ThemeForest, a nice and clean real estate theme for one member of my family, but the theme is based on an english language.
I translated it with POedit but there is one problem remaining.

It seems that the permalinks are set to be site.com/properties/post-name with “properties” being a variable that I can’t change.

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No matter What I choose in the permalink section, it won’t change it; I would like to know where are set those default settings.

Thanks

EDIT:

Here’s the lines of codes responsibles for my headache (Thx McNab foir pointing it out)

if( !function_exists('wpestate_create_property_type') ):
function wpestate_create_property_type() {
register_post_type('estate_property', array(
    'labels' => array(
        'name'                  => __('Properties','wpestate'),
        'singular_name'         => __('Property','wpestate'),
        'add_new'               => __('Add New Property','wpestate'),
        'add_new_item'          => __('Add Property','wpestate'),
        'edit'                  => __('Edit','wpestate'),
        'edit_item'             => __('Edit Property','wpestate'),
        'new_item'              => __('New Property','wpestate'),
        'view'                  => __('View','wpestate'),
        'view_item'             => __('View Property','wpestate'),
        'search_items'          => __('Search Property','wpestate'),
        'not_found'             => __('No Properties found','wpestate'),
        'not_found_in_trash'    => __('No Properties found in Trash','wpestate'),
        'parent'                => __('Parent Property','wpestate')
    ),
    'public' => true,
    'has_archive' => true,
    'rewrite' => array('slug' => 'properties'),
    'supports' => array('title', 'editor', 'thumbnail', 'comments','excerpt'),
    'can_export' => true,
    'register_meta_box_cb' => 'wpestate_add_property_metaboxes',
    'menu_icon'=>get_template_directory_uri().'/img/properties.png'
     )
);

After changing the slug to something else, the addresses become the right one, but all ending on a 404. Are my links already created now dead?

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