Valid property rights are necessary to support investment, productivity and economic growth.
Evidence from economies around the world suggests that property owners with registered titles are more likely to invest.
They also have a better chance of getting credit when using their property as collateral.
Likewise, having reliable, up-to-date information in cadasters and land registries is essential for governments to correctly assess and collect property taxes.
Twenty-nine economies made registering a property easier by increasing the efficiency of property transfers and improving the quality of land administration in 2016/17.
The most common improvements included increasing transparency of information and increasing administrative efficiency by reducing the time to transfer property.
Mauritius made the biggest improvement in the ease of registering property in 2016/17. It did this by eliminating the10% transfer tax and registration duty, implementing a complaint mechanism and publishing service standards.
Rwanda also made improvements to its property registration process in 2016/17.
Rwanda reduced the time for a property transfer by introducing new online services such as user searches of property information and online property transfer filing and registration (figure below).