Valuation of unregistered land : What's the problem?
James Kavanagh, Frances Plimmer
Social and economic development in those parts of the world where land rights or land title are not formalized or registered relies heavily on the ability of ownerss to use their land as a tradable commodity, either for exchange in an open market or as collateral for a loan. For these (and other purposes), the valuation of the rights, restrictions and responsibilities attached to unregistered land is an essential component. But is it possible to value rights etc., in unregistered land? The valuation profession has well established techniques to arrive at valuess for a whole range of purposes which have been tried and tested on secure property rights. These are based, to a greater or lesser extent, on the analysis of data from sales of comparable properties in the market. Where there is developed, active, transparent real estate market in which all types of properties are traded, and a body of skilled, experienced professionals to undertake the work, valuation can be a reliable process. But without such a market to provide the necessary data for comparative purposes and without an adequate number such individuals, is valuation as normally understood impossible?
Event: Annual World Bank Conference on Land and Poverty 2015
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