The Ministry began processes to pass the bill in efforts to regulate the possession of both residential and non-residential condominiums in Ghana, but five years down the line, the bill is yet to be passed.

Sector Minister, Francis Asenso-Boakye, is, however,  optimistic the necessary legislation will be acquired soon to sanitise the sector.

He spoke at the launch of Vaal Real Estate’s new apartments; the Harmonia Residence in Accra.

“The need for high rise buildings has resulted in the need for shared ownership of common areas. That is why the government is currently working on a Condominium Bill to regulate shared and common spaces. The Ministry is committed to getting legislation on condominium properties in place to provide for the establishment, ownership and management of condominiums and unit titles among others.”

A condominium, popularly known as a compound house in Ghana, usually consists of small rooms housing several households with an open courtyard and shared facilities such as toilets, bathrooms and kitchens.

Unfortunately, these houses come with many issues, including the ownership of the buildings.

For this reason, stakeholders in the real estate sector have been pushing for legislation to regulate the ownership of these apartments.

The Ministry of Works and Housing in 2017 disclosed that it had commenced processes to get the housing sector regulated. Parliament then was prepared to pass four pieces of legislation to regulate activities within Ghana’s housing sector.

This included the passage of two new Bills which were the Real Estate Agency Bill and the Condominium Bill.

Despite the efforts made to get a condominium law passed, the bill is yet to receive Cabinet’s approval.

Francis Asenso-Boakye says his outfit is still pushing for the bill to be passed soon.

He also disclosed plans to establish a Real Estate Agency Council.

According to him, the Council will seek to regulate “the practice of the industry, the conduct of practitioners, sale, purchase, rental, and leasing of properties. The goal of this Council is to among others, prohibit unlicensed persons in the sector and also stop the menace of money laundering in the real estate sector”.