Angolan government to decree reduction in price of land

22 March 2010

Luanda, Angola, 22 March – The Angolan government is preparing a decree that will set the cost of land across the country in order to allow real estate promoters to offer lower prices, the Minister for Urbanism and Construction said Saturday in Luanda.

Moments before leaving for Rio de Janeiro (Brazil), where he will take part in the 5th World Urban Forum, José Ferreira said that overall real estate projects were still priced high which needed to be corrected with the introduction of some measures.

“One of the issues that people are concerned about is that the price of land is still quite high, and thus we are working on defining a single figure for the country in order for real estate promoters not to have to base the price of the house on the high price of the land,” he noted.

The minister also said that it was fundamental to have a greater supply of housing for prices to go down and added that, as part of the government programme to boost housing, houses had well-defined prices, both the low cost houses and medium-income houses.

Also as part of the programme, Ferreira said that protocols had been signed with four real estate companies, which would allow for construction of 150,000 houses in the first instance, as well as the self-construction programme that will be driven by the sale of urban plots and kits to the population.

The 5th World Urban Forum, held in Rio de Janeiro, aims to discuss the role of governments in ensuring that the right of the poor are respected as they make up the majority of city dwellers. (macauhub)