October 28, 2020

Parliament on Wednesday, October 27, 2020 passed the Real Estate Agency Bill after a brouhaha over the title to be carried by the House.

The objective of the bill is to regulate estate agency practice and commercial transactions including practice and the sale, purchase, leasing and rental.

In an interview after adjournment, the Minister for Works and Housing, Samuel Atta Akyea noted that there is the need to have a law to regulate the people who pose as middlemen, when it comes to house industry.

He further noted that there are some criminal activities in the real estate sector which is money laundering, and it is on record that a lot of money go through that area, so with the legal regime the problem can be addressed.

“If you go against the law you would be dealt with and that is where we are. Again government would be able to take the needed tax if you stand between the landlord and the tenant. As they take their commission, they should pay tax to the state and it would aid in revenue mobilization”.

He further added that it would create jobs as people would be trained and given certificates to do their job.

Kwaku Sakyi-Danso/Ghanamps.com