Africa-Press – Malawi. Parliament Tuesday passed the Real Estate Management Bill, which seeks to establish new legislation for the regulation of real estate management, real estate agents, real estate developers and real estate transactions.
According to Lands Minister Deus Gumba, the bill, once assented to by the President, would bring professionalism and order to the real estate sector.
“If the President signs this bill, [officials from] the ministry will travel across the country to educate the public about its provisions, ensuring that even rural communities understand what the bill entails,” Gumba said.
He added that, currently, some individuals are masquerading as agents, leading to malpractices in the industry.
He said the real estate sector should be managed by well-trained professionals.
Among other things, the bill establishes the office of the Commissioner for Estate Management, a public officer responsible for advising the line minister on all matters related to real estate management and activities.
This includes overseeing the development of public land, plot allocation and plans for essential infrastructure such as access roads, electricity, water, street lighting and fiber-optic cables.
For many years, Malawi has struggled with issues in the real estate sector.
On Monday, Parliament also passed two land-related bills: the Sectional Titles Bill and the Property Valuation Bill.
These bills are expected to increase property ownership, create jobs and protect Malawians from fraudulent land transactions.
The bills will ensure that land and property are properly evaluated, protect people from unfair pricing and establish a Commissioner of Evaluation office and a tribunal to manage complaints.
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