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How Land Administration Systems Determining Land Market Efficiency (5181)

Peter Dent (United Kingdom) and Mouaiad Al-Omari (Jordan)
Dr. Peter Dent
Director
Oxford Brookes University
Headington Campus
Gipsy Lane
Oxford
OX3 0EP
United Kingdom
 
Corresponding author Dr. Peter Dent (email: prdent[at]brookes.ac.uk, tel.: + 44 (0) 1856 48 3481)
 

[ abstract ] [ paper ] [ handouts ]

Published on the web 2011-02-10
Received 2010-11-22 / Accepted 2011-02-10
This paper is one of selection of papers published for the FIG Working Week 2011 in Marrakech, Morocco and has undergone the FIG Peer Review Process.

FIG Working Week 2011
ISBN 978-87-90907-92-1 ISSN 2307-4086
http://www.fig.net/resources/proceedings/fig_proceedings/fig2011/index.htm

Abstract

Decision makers, investors, land developers, and users involved in using land issues are looking for consistency, clarity, transparency and accountability in valuation reporting. Theoretically, this can best be achieved through a reliable land valuation system that works within an efficient land administration system (LAS) which is responsible for formulating an efficient land market (LM) that is needed to facilitate the worldwide investment opportunities. Dealing with the growing needs for reliable land valuations to support land administration system's efficiency and then land market efficiency became necessary. There is general agreement (World Bank studies, UN-ECE, 1996, Desoto H., 2000) that a nation's wealth is contained in its real estate markets. Efficient land markets (LM) can be formulated through formal and efficient land administration system (LAS) (Molen P. and Osterberg T., 1999, pp.21- 22), and it (LM) is supporting social stability and economic sustainable development (PA-LAMP, 2002, P. 87). Hence, efficient LAS is a prerequisite for building efficient LM. This can be seen by the following trends that are influencing economic development and social stability: 1. The recognition that sustainable land administration systems serve societies with effective sets of products and services (Enemark S. et al, 2009, P. 17). Hence, it’s considered vital for resolving land conflicts concerning the ownership and use of the land, land settlement, land survey, and land registration (French N., 2004 p.533). 2. The globalization of real estate markets support the recognition that efficient land administration systems enhance the creation of efficient land markets (Enemark S. et al, 2009, P. 17), and facilitate the cross-border investment opportunities (Jones Lang LaSalle, 2006, p.1). The paper will discuss LAS and its relation to LM. Efficiency in LAS and efficiency in LM will be introduced. It will be concluded with the role of LAS in determining LM efficiency.
 
Keywords: Standards; Education; Capacity building; Cadastre; Land management; Security of tenure; Access to land; Valuation; Real estate development; Property taxes; Legislation

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