Should Market Forces Alone Dictate Real Estate? Why Regulation Matters.
While free-market principles are valuable, the unique nature of land necessitates a more considered approach. Can we truly leave such a vital asset solely to the whims of supply and demand?
The reality is that real estate is deeply intertwined with social and economic well-being. Without proper oversight, we risk widespread malpractices, from investor fraud to land ownership disputes, eroding trust and hindering growth.
A well-regulated real estate sector is essential for economic stability and investor confidence. In Tanzania, we’re looking forward to the Real Estate Act, which aims to:
- Create clear policies and plans.
- Increase legal framework transparency.
- Develop an online platform for industry stakeholders.
- Implement licensing and regulatory oversight.
- Protect consumers and investors.
- Enhance public education.
