City Admin Partially Reopens Property Transfer Services


City Admin Partially Reopens Property Transfer Services

The Addis Abeba City Administration has partially lifted the suspension on land and land-related services it imposed seven months ago. It is among the recent steps it has taken by to improve the property market, which has been stagnant since last July. Transference of ownership is permitted in the event of foreclosure, court-ordered sales, condominiums title deed transfers, transfers through inheritance and sales made by real estate developers. According to the City Administration, all land-related services were suspended due to widespread "illegal activities." Officials have pledged to investigate the matter before the bans would be rescinded completely.  Over a month ago, the City Administration recommenced issuing building permits and related services. The Documents Authentication & Registration Service has also announced it has reinstated all services provided under its offices. Among these is sales document authentication of immovable properties. The Service began authenticating loans last month, when the central bank lifted the four-month freeze on collateralised loans. The ban imposed on land transfers through sale, however, still applies.


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