Guyana Property Rights Study
IDB
Download Document| Date Published | 2010 |
| Version | |
| Primary Author | Elena Panaritis, Angelo Kostopoulos |
| Other Authors | |
| Theme | Property Rights and Registration |
| Country | Guyana |
Abstract
This report provides a first-time assessment of the property rights system in Guyana and the way it affects the real estate/property/ land market and the overall security of the wealth base of individuals. The assessment is based on the methodology of Reality Check Analysis (RCA). RCA allows for a breakdown and mapping of the variables that have contributed to the current bottlenecks in Guyana and as well as poverty, malaise, and lack of affordable housing. With RCA the following questions arise: What is the underlying legal system that defines the rules and regulations that guide the overall property rights system? Who enforces property rights transactions and who controls the quality of the output? Who are the users? Do the users have a say in the quality control? How robust is the financial market? RCA is able to identify the relationship between a well functioning and secure property rights system with that of a well functioning land and property market (including housing market) of all income sectors. The analysis resulted in identifying the bottlenecks related to the rules applied (laws, regulations, administrative processes, etcetera) and to the organizations in place (agencies, ministries, etcetera).