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This article explores the nature of property rights systems, their evolution, and their effect on resource allocation. It is argued that certain institutional arrangements for land rights have evolved in order to reduce uncertainty and increase efficiency in credit as well as in land markets. Of particular relevance to developing countries, the article emphasizes the contribution of public sector infrastructure to effective land rights systems. An appendix to the article presents a formal model analyzing the effects of security of land rights on land prices, the intensity of cultivation, and the use of credit. Empirical evidence from Thailand supports several of the propositions derived from the model. © 1991 The International Bank for Reconstruction and Development / THE WORLD BANK Articles citing this article Linking Land Use Planning and Regulation to Economic Development: A Literature Review Journal of Planning Literature (2011) 26(1): 35-47 AbstractFull Text (PDF) Contracts and Retaliation: Securing Housing Exchanges in the Interstice of the Formal/ Informal Beirut (Lebanon) Housing Market Journal of Planning Education and Research (2009) 29(1): 90-107 AbstractFull Text (PDF) Land Registration, Governance, and Development: Evidence and Implications for Policy WORLD BANK RES OBS (2009) 24(2): 233-266 AbstractFull Text (HTML)Full Text (PDF) Tenure Security, Resource Endowments, and Tree Growing: Evidence from the Amhara Region of Ethiopia Land Economics (2009) 85(2): 292-307 AbstractFull Text (PDF) Is Land Titling in Sub-Saharan Africa Cost-Effective? Evidence from Madagascar WORLD BANK ECON REV (2007) 0(2007): lhm011v1-25 AbstractFull Text (HTML)Full Text (PDF) Reforming Land Rights: The World Bank and the Globalization of Agriculture Social Legal Studies (2005) 14(2): 147-177 AbstractFull Text (PDF) Credit access and transferable land rights OXF ECON PAP (2004) 56(1): 151-166 AbstractFull Text (HTML)Full Text (PDF) How Types of Goods and Property Rights Joint

The NRAS is a Federal and State initiative designed to stimulate the rental market. What it has turned out to be is a real boom for investors, gosh! Where do I sign? It should be noted that the National Rental Assistance Scheme is not designed as a social welfare program but was seen as a necessity to supply a shortfall of rental accommodation evident in the market, primarily for the target market of essential services workers (Fire, Nurses, Teachers, Police etc) NRAS provides investors with TAX FREE incentives of up to $8,672 per dwelling per year for the first ten years. This can be taken as cash, or as Tax Credits. For the incentive, owners agree to rent the houses out at a discount of between 20 - 25% of the market rate. The rental is administered by QAHC on a 10 year lease which provides security, income is indexed every year AND independently assessed to market in years 1, 4 and 7. At the completion of the 10 year lease the property is fully reconditioned and handed back. Banks will still lend against NRAS properties to 85% as a rule of thumb, anything over 70% though is mortgage insured. For further information on the NRAS scheme call me on 5474 4100 any time.

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Strikingly beautiful towers stand amidst 75% open spaces. The equation is breathtaking.But the genius of design seamlessly harmonizes wave gardens with its lush surroundings creating an incomparable haven.