Business Magazine

An International Scorecard for Property Markets

Posted on the 22 November 2013 by Center For International Private Enterprise @CIPEglobal


As we celebrate the Global Entrepreneurship Week, we are reminded time and again that making entrepreneurship work takes an entire ecosystem of supporting factors. CIPE’s recent report, “Creating the Environment for Entrepreneurial Success,” highlighted the complexities involved and focused on many elements needed for entrepreneurs to succeed.  Property rights and institutions that create healthy property markets are among such crucial elements of building vibrant entrepreneurship ecosystems.

Property rights are key building blocks of modern market economies. They are also a fundamental human right, enshrined in Article 17 of the United Nations Universal Declaration of Human Rights, which states that:

  • (1) Everyone has the right to own property alone as well as in association with others.
  • (2) No one shall be arbitrarily deprived of his property.

These simple statements seem self-evident. Yet, it takes a multitude of intertwined and interacting laws, rules, and institutions to ensure that property rights are accessible to all members of the society and adequately protected so that they can become equal stakeholders in their country’s future.

The International Property Markets Scorecard, a tool jointly developed by the Center for International Private Enterprise (CIPE) and the International Real Property Foundation (IRPF), takes such a holistic view of property rights in their broader context.  The Scorecard maps the institutional components of property markets and evaluates their effectiveness, providing a methodology  to investigate the six core elements necessary for sustainable property market development:

  • property rights laws and enforcement,
  • access to credit,
  • efficiency of governance,
  • rational dispute resolution,
  • financial transparency,
  • appropriate regulations.

The Scorecard is a tool for in-country reformers, international policy advisors, and market analysts as it provides comprehensive snapshots of market conditions, identifying key areas for reform as well as market risks. CIPE and IRPF have been using this methodology to conduct research and support local partners’ advocacy efforts over the last few years in countries ranging from Armenia to the Philippines. Today we finally brought all the findings together under the newly launched International Property Markets Scorecard website,

Former President of the International Real Estate Federation’s (FIABCI) Dutch chapter and European Vice President of FIABCI Gerard W. Bakker, and Principal Consultant of World Citizen Consulting and Secretary General of the International Real Estate Federation’s U.S. chapter (FIABCI-USA) William Endsley joined  CIPE today at a launch event to discuss the Scorecard as a tool to reform property rights and markets. Bakker highlighted the relevance of the Scorecard to FIABCI’s work especially under the Global Housing Foundation, a joint FIABCI and UN initiative that seeks to house the homeless around the globe by combining private- and public-sector resources. Endsley added that the Scorecard is a useful and versatile system analysis tool that shows how different elements of property markets are interconnected, with improved property rights as the first step toward better functioning markets.

Accessible, secure property rights and entrepreneurship go hand in hand. Yet, as the Commission on Legal Empowerment of the Poor, co-chaired by Hernando de Soto and Madeleine Albright, put it:

“In too many countries, the laws, institutions, and policies governing economic, social, and political affairs deny a large part of society the chance to participate on equal terms.”

The International Property Markets Scorecard provides the tools and a road map to address these institutional shortcomings, to make property rights meaningful, and to create more conducive entrepreneurship ecosystems around the world.

Anna Nadgrodkiewicz is Director of Multiregional Programs at CIPE.

You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Big Food Giants Manipulate Public Health Policy in China

    Food Giants Manipulate Public Health Policy China

    Coca-Cola is at it again. As soda sales decline in the United States and Europe, beverage companies look to emerging economies like China for growth. And, it... Read more

    The 15 January 2019 by   Dietdoctor
  • Jewellery for a Precious You

    Jewellery Precious

    Jewellery is always close to a woman’s heart. It completes her look and boost confidence. Considering the changing trends in jewellery fashion, it becomes... Read more

    The 15 January 2019 by   Dr.jenifer Sayyed
  • Rajshri Productions’ Next Is A Film On Friendship | Hum Chaar | Trailer

    Abhishek Dixit’s debut feature film Hum Chaar is a Bollywood film made under the banner of Rajshri’s film. Hum Chaar is written and directed by Abhishek Dixit. Read more

    The 15 January 2019 by   Themoviean
  • Saint Paul the First Hermit

    Saint Paul First Hermit

    Today is the feast day of Saint Paul the hermit. This is a sweet and delicate Oatmeal Bread topped with rolled oats and naturally sweetened with agave. Saint... Read more

    The 15 January 2019 by   Veronica46
  • Irupathiyonnaam Noottaandu | Teaser | Pranav Mohanlal | Arun Gopy

    Arun Gopy’s Irupathiyonnaam Noottaandu is an upcoming Malayalam action-drama feature film starring Pranav Mohanlal and Zaya David in the lead roles. Read more

    The 15 January 2019 by   Themoviean
  • A Year Of Body Positivity

    Year Body Positivity

    Last January, as I sat there on New Years eve all set to make the same old resolutions I've made year after year for as long as I can remember, I realised how... Read more

    The 15 January 2019 by   Sparklesandstretchmarks
  • Garden Bloggers Bloom Day – Jan 2019

    Garden Bloggers Bloom 2019

    Euphorbia rigidaWhen I went out to take the photos for this blog post I was surprised at how much was in flower dotted around the garden. Read more

    The 15 January 2019 by   Patientgardener