Ver Angola

Real Estate

Government prepares legislative package to curb informality in the real estate sector

The Government announced this Thursday that it is preparing a legislative package to regulate the real estate sector, "which should be approved later this year", to curb informality in this segment of the housing sector.

: Lusa

"Yes, there is still a great deal of informality in this sector, that is true, but with this package that is being finalized now, it is expected that we will be able to get people out of informality and also have control of the mediators and, in this way, greater regulation", said this Thursday the director of the legal office and exchange of the Ministry of Public Works, Urbanism and Housing.

Rui Narciso, who was speaking on the sidelines of a seminar on the real estate sector, taking place this Thursday in Luanda, said that, despite the real estate sector law and the regulation on the activity of raising and immediating real estate having already been approved, the instruments in preparation should allow "greater control" of the 'players' in the sector.

"I believe that, still this year, we will be able to close the legislative package on the real estate sector", he assured journalists, believing in a "new era" for the sector.

The official also commented on the intention of Linear Comunicação, the real estate agency promoting the seminar, to create a regulatory authority for "better control of the activity", considering that it is an idea that can be analyzed, but adding that the National Housing Institute it has also acted as a regulatory institute for the sector.

"There is already a regulatory institute which is the National Housing Institute, which under the terms of the law is the body that regulates the issue of real estate brokers and brokers", he argued.

Asked about current housing prices in the country, taking into account the current socio-economic context of families, Rui Narciso said that these "are duly tabulated".

"There are specific diplomas that establish prices and I think that there is no question regarding this aspect, regarding housing credit, the BNA has now issued a notice on this matter and we are waiting for this to facilitate", he stressed.

The Angolan authorities in the sector, he added, estimate that in Angola there is a housing deficit of around four million homes, stressed the official, noting that the recently launched self-construction program should respond to demand.

The 1st Angolan Real Estate Market Seminar 2023 brings together several operators in the sector in the capital.


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