RICS RESEARCH VALUATION OF UNREGISTERED LAND – THE REALITY OF FUNCTIONING INFORMAL LAND AND PROPERTY MARKETS IN GHANA, PERU & INDONESIA
JAMES KAVANAGH et all
University of Technology Sydney Australia, Global Property Advisory Australia, RICS, United Kingdom
RICS has recently carried out a wide-ranging research project looking at the realities of functioning informal land & property markets in Ghana, Peru and Indonesia. This is the first time that informal land
markets have been studied in this way and this research and its findings should help provide a wealth of background information to anyone working or who has an interest in this sector. This research has
focused on how and what valuation methodologies are currently used to value informal land in these geographies, the need for alternative valuation methods encompassing such complex issues as social,
environmental, reasonableness, and the conclusion that current global valuation methods may be, in some circumstances, inappropriate. The research both builds on previous work in this important sector (RICS Research 2011 – Valuation of unregistered land – Kenya, RICS Research 2016 – An evaluation of valuation practice in sub Saharan Africa – case study Ghana) and helps provide an evidence base for current initiatives such as the International Land Measurement Standard (ILMS), UN Habitat GLTN ‘Valuation of unregistered land guide’, UN FAO ‘Valuing land tenure rights’ and for future initiatives such as the development of ‘environmental/ecosystem valuation’ standards and International Valuation
Standards (IVS).
Event: Land Governance in an Interconnected World_Annual World Bank Conference on Land and Poverty_2018
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