This note provides a short overview of urban land and housing market performance in Punjab Province of Pakistan. It describes the characteristics of well-functioning urban land and housing markets and argues that, at present, the Punjab's urban land and housing markets are not performing well. The paper identifies a range of structural and institutional shortcomings that impede urban land market performance, and then concludes by offering recommendations for making land and housing markets functions better.
Although a large theoretical literature discusses the possible inefficiency of sharecropping contracts, the empirical evidence on this phenomenon has been ambiguous at best. Household-level fixed-effect estimates from about 8,500 plots operated by households that own and sharecrop land in the Ethiopian highlands provide support for the hypothesis of Marshallian inefficiency. At the same time, a factor adjustment model suggests that the extent to which rental markets allow households to attain their desired operational holding size is extremely limited.
Mongolia has very significant natural resources and a large part of the population is dependent on them for their daily living. The impact of the state of the environment on the living standards of herders is obvious, but also Mongolians living in the capital Ulaanbaatar have learned that air pollution, especially in winter, and other environmental problems have a deep impact on their living standards. The Government of the Netherlands has established a Trust Fund at the World Bank to support environmental activities in Mongolia.
The potential contribution of land based financing to the development of sustainable and equitable cities and properly serviced communities is often underestimated. Land based financing is a collective name given to a range of instruments by which local governments could expand their revenue base and generate funds that will help them to deliver services and infrastructure development and achieve their maintenance goals.
Last month, the South African Independent Electoral Commission announced in frustration that it needs USD 22.9 million to collect addresses ahead of a court-mandated deadline, a problem compounded by the fact that most townships don’t have well-marked street names.
When looking to buy a home or other property in the U.S., location is typically at the top of the list—many buyers value properties with access to amenities like schools, parks, and an easy commute. But is that value shared by home buyers in developing countries? University of Illinois economist Hope Michelson looked at property transactions in Kenya near what she assumed would be a highly desirable location and found the real estate mantra, "location, location, location," wasn't necessarily the guiding principle there.
Investment in urban infrastructure such as new roads, public utilities or parks invariably increases real-estate prices. In Pakistan, stories of riches earned overnight due to new highways passing through agricultural lands are common.