The Government of Ghana is implementing targeted policies and regulatory measures aimed at restoring integrity and professionalism in the country’s real estate sector. This initiative comes in response to growing concerns about unethical practices, fraudulent transactions, and lack of transparency that have plagued the industry in recent years.
In a statement, the Ministry of Works and Housing outlined several key actions to address these challenges:
-
Strengthening Regulatory Frameworks: The government plans to review and enforce existing laws governing land acquisition, property registration, and construction standards to ensure compliance and reduce illegal activities.
-
Enhancing Transparency: Efforts will be made to improve transparency in property transactions, including the digitization of land records and the establishment of a centralized database accessible to the public.
-
Promoting Professionalism: The government aims to establish certification programs for real estate professionals to ensure that individuals involved in the sector adhere to ethical standards and possess the necessary qualifications.
-
Public Awareness Campaigns: Initiatives will be launched to educate the public on their rights and responsibilities in property dealings, as well as to raise awareness about common scams and how to avoid them.
These measures are expected to create a more secure and trustworthy environment for both property buyers and investors, thereby boosting confidence in the real estate market.
Industry stakeholders have welcomed the government’s intervention, expressing optimism that these reforms will lead to a more organized and transparent sector. However, they also caution that successful implementation will require sustained commitment and collaboration between government agencies, industry players, and the public.
As the government moves forward with these initiatives, it is hoped that the real estate sector will experience a significant transformation, characterized by increased integrity, professionalism, and investor confidence.
Source: Thepressradio.com
