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Expo Italia Real Estate (EIRE)
&
Fiera di Milano - Rho
ORGANISED AT
Thursday, June 12, 2008
Presentation of the UNECE Working Party on Land Administration’s
Real Estate Market Advisory Group (REM)
The Real Estate Market for Economic and Social development
in UNECE member states
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
David Egiashvili
Expert Member of REM
The Real Estate Market Advisory Group:
Real Estate for Economical & Social Development
Expo Italia Real Estate (EIRE)
&
Fiera di Milano - Rho
ORGANISED AT
Thursday, June 12, 2008
Presentation of the UNECE Working Party on Land Administration’s
Real Estate Market Advisory Group (REM)
The Real Estate Market for Economic and Social development
in UNECE member states
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Some of the requirements for a fully functioning market are:
•The rule of law, a sound economy and a stable society are essential requirements
for the development of a housing market.
•Clear ownership or occupancy rights are necessary if people are to be encouraged
to invest in their own housing or to engage in housing development.
•Land and utilities must be available for new housing development, and housing
must not be adversely impacted by other form of development.
•The quality of construction must be regulated.
•There must be high quality valuation and surveying standards.
•Mortgage lending will develop of its own accord if the conditions are right
Expo Italia Real Estate (EIRE)
&
Fiera di Milano - Rho
ORGANISED AT
Thursday, June 12, 2008
Presentation of the UNECE Working Party on Land Administration’s
Real Estate Market Advisory Group (REM)
The Real Estate Market for Economic and Social development
in UNECE member states
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Some of the benefits to be obtained are:
•A more stable and inclusive society
•Aids the ability for internal movement for jobs
•Helps reduce economic migration
•Better maintenance of property when owned
•Spreads the risk amongst all home owners rather than Government or large landlords
•Individuals ability to use their ownership as an asset against further borrowing
•Government’s ability to gather property related taxes
Expo Italia Real Estate (EIRE)
&
Fiera di Milano - Rho
ORGANISED AT
Thursday, June 12, 2008
Presentation of the UNECE Working Party on Land Administration’s
Real Estate Market Advisory Group (REM)
The Real Estate Market for Economic and Social development
in UNECE member states
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Country
UK
Germany
France
Netherlands
Spain
Italy
Lithuania
Estonia
Czech Republic
Slovakia
Bulgaria
Romania
Some comparisons of country’s mortgage debt to GDP:
2002
2003
2004
2005
2006
63.9
69.2
73.9
78.2
82.8
43.0
43.4
43.0
42.9
42.3
22.5
24.1
26.0
28.8
31.8
60.8
63.4
67.7
72.9
72.6
32.4
35.5
40.0
49.5
56.1
10.2
11.6
13.3
15.3
16.6
n/a
n/a
5.5
9.1
12.6
15.9
23.4
32.4
4.4
5.9
7.8
9.7
12.0
3.9
4.8
6.7
8.2
10.4
0.7
1.2
2.6
4.7
n/a
n/a
n/a
n/a
1.8
2.3
Source: European Central Bank, Swiss National Bank, Bank of England, National Bank of Romania, IMF, Eurostat, Morgan Stanley Research
Expo Italia Real Estate (EIRE)
&
Fiera di Milano - Rho
ORGANISED AT
Thursday, June 12, 2008
Presentation of the UNECE Working Party on Land Administration’s
Real Estate Market Advisory Group (REM)
The Real Estate Market for Economic and Social development
in UNECE member states
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Number of jobs in the construction sector
in Georgia
Employment has increased 2.5 times
Average salary of staff in the construction sector
in Georgia
Average salary has increased 2.5 times
Expo Italia Real Estate (EIRE)
&
Fiera di Milano - Rho
ORGANISED AT
Thursday, June 12, 2008
Presentation of the UNECE Working Party on Land Administration’s
Real Estate Market Advisory Group (REM)
The Real Estate Market for Economic and Social development
in UNECE member states
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Mortgage loans in construction in Georgia
(mln USD)
Mortgage loans have increased 10 times
Business loans for construction companies in Georgia
(mln USD)
Business loans have increased 5 times
Expo Italia Real Estate (EIRE)
&
Fiera di Milano - Rho
ORGANISED AT
Thursday, June 12, 2008
Presentation of the UNECE Working Party on Land Administration’s
Real Estate Market Advisory Group (REM)
The Real Estate Market for Economic and Social development
in UNECE member states
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Thank you for your attention