Secured property rights and efficient land administration is a cornerstone for development of sufficient real estate markets and the social and economic development of countries.
Over the last twenty years Eastern Europe and Central Asian countries have undergone significant changes, transitioning from an absence of ownership rights and land markets to the establishment of private ownership through implementing streamlined policy reforms.
Having said that, it’s amazing to note that according to the Doing Business Report 2012 nine countries from the ECA region are ranked in the top 20 in property registry.
This shows that with strong government commitment and a proper legal framework each country can establish enabled property markets which provides a secure base for using land and property as collateral, reducing corruption, increasing transparency and accountability, facilitating employment and introducing sustainable practices in land management and administration resulting in economic growth.