Source: Government of Ghana Official Portal

Government will soon come out with a bill to streamline the operations of the Real Estate sector, Alhaji Collins Dauda, Minister for Water Resources, Works and Housing, has disclosed.

The objective of the bill, Alhaji Dauda said, was to regulate Real Estate brokerage practitioners and brokerage practice, the training and licensing of estate brokers and to establish a Real Estate Agency authority to regulate Real Estate Agency practice involving the sale, purchase, rental and leasing of Real Estate and related fixed assets.

The Water Resources, Works and Housing Minister, who was speaking at Lamudi Real Estate conference in Accra, last week, cautioned prospective home owners against fraudulent real estate agents and agencies.

The theme for the conference was The Future of the Real Estate in the Emerging Market.

Alhaji Dauda disclosed that cabinet had also approved a Housing policy to provide adequate, safe, secure, decent and affordable housing that was accessible and sustainable to all people living in Ghana.

He said the policy contained recommendations in respect of improved access to land with good title for housing and the increased production and usage of local building materials in construction.

Aside these, he said, the policy also recommended the establishment of a National Housing Fund to be designated for affordable mortgages, slum upgrading and support for small scale local building material producers.

Alhaji Dauda noted that the housing deficit in Ghana was currently on the increase and that the way to reduce the gap was to partner with the private sector.

He said discussions were far advanced to involve the Ghana Real Estate Developers Association (GREDA) and other stakeholders within the housing industry in the development of affordable housing for all Ghanaians.

Source: ISD (Latifa Carlos)