Ministry of Commerce Advances Development of Real Estate Bill
Thursday, October 10, 2024
By Ministry of Commerce
The Ministry of Commerce, Manufacturing, Business Development, Cooperatives, and Consumer Affairs is driving efforts to finalize the Real Estate (Brokers and Agents) Bill, a critical initiative to bring structure and accountability to Saint Lucia’s real estate sector. This legislation has been developed in collaboration with the Realtors Association of Saint Lucia and the Attorney General’s Chambers.
The Bill aims to ensure that individuals acting as real estate agents and brokers are licensed, adhere to recognized standards, and operate within clear legal and ethical frameworks. It also seeks to establish a Realtors Board tasked with the oversight and administration of the sector while safeguarding investments through enhanced regulation.
This comprehensive process has included input from various stakeholders, including real estate professionals and other sector participants, whose feedback has shaped the final draft. Following its first reading in Parliament on September 10, 2024, the Bill is now slated for its second and third readings in upcoming parliamentary sessions.
For more information, contact the Ministry of Commerce at (758) 468-4218/(758) 468-4203 or via email at mincommerce@govt.lc.
