LAND MARKETS, INFORMATION, AND A PROPERTY REGISTRATION SYSTEM IN ALBANIA

This article describes the creation of land markets within an overall strategy of converting from a centrally planned economy to a market-ba sed economy. The first major step is the privatization of rights to im movable property (land and dwelling units in particular). This process is well advanced, with some remaining problems: (1) the rights of fam ily members to such property are ill defined; (2) there are residual c onflicts over the distributed ex-cooperative land; (3) buying and sell ing agricultural land is prohibited, but it is likely that informal tr ansactions are occurring, leading to legal insecurities; (4) the recor ding of titles to immovable property is dispersed, being different for urban and agricultural properties; (5) condominium arrangements for u rban apartment buildings are not in place; (6) land allocated to apart ment buildings is not sufficient for access and owner use; (7) land in vasions are common in urban areas; (8) legislation has not been consis tent, creating overlapping rights to urban commercial properties. The effort to create a unified Property Registration System is urgently ne eded to overcome these problems and to move the country toward a socia lly and environmentally sustainable land market. Legislation and insti tutional arrangements for the PRS are in place, ready for the systemat ization of information about rights to real property.