Serbia ranked high when it comes to perceived tenure security, taking 10th place in Europe and 14th place in the world beating Germany, France, Great Britain, Russia and USA, as shown on the Global Property Rights Index based on the new Prindex list for 2020.
The “Property Rights Index” (Prindex) research is a joint initiative by the Overseas Development Institute (ODI) and Global Land Alliance supported by the Department for International Development of the United Kingdom and Omidyar Network, the Republic Geodetic Authority (RGA) stated.
The result show that up to 97% property owners in Serbia feel secure that they will not lose their property against their will. Property rights security is a cornerstone of economic and social development.
After the implementation of reforms and cadaster digitization, the level of transparency and reliable information increased, which is the main reason property owners in Serbia feel secure, the RGA statement reads.
The high level of confidence in tenure security is the outcome of the reforms carried out by the RGA with the support of the World Bank through Land Administration and Management project.
Serbia ranking high on the Prindex list, above such big economies as Germany, France, Great Britain, Russia and USA creates opportunities for safe real estate investment in Serbia.
It is very important that research results indicate that women in Serbia feel almost equally secure about their property rights as men d, pointing to the positive effect brought about by the measures RGA took to improve gender equality.
RGA reminded that the Food and Agriculture Organization of the United Nations recently recognized Serbia as a Western Balkans leader in gender equality in property rights.
Serbia was one of the top 10 countries in Integrated Geospatial Information Framework implementation as recognized by the United Nations.
Prindex research also showed that the rental sector would have to more precisely defined in the next period because renters felt insecure. The latest acknowledgment, as well as the previous recognitions and award are confirmation that RGA carried out reforms and achieved outstanding results. With its activity, RGA helped Serbia to position among the attractive countries for investments and provided efficient and reliable service to its citizens in property rights management, the statement said.