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Experts have evaluated Georgia's success in the sphere of real estate

2011-10-20 15:43

Experts have evaluated Georgia's success in the sphere of real estate. 23480.jpegAccording to Georgian Ministry of Justice, Georgia took the first place in the ranking of Doing Business 2012. As reported by "Georgia-News", Sakartvelo has taken 1st place due to reforms made in the field of real estate registration. As the Ministry of Justice explained to reporters, the present study was conducted by the World Bank and International Finance Corporation (IFC). It was held in the period from June 2010 to June 2011. And Georgia was ranked first among 183 countries in this study.

"Evaluation of the reforms undertaken in the field of real estate registration was based on the number of procedures required to record the time and the price factor", noted the Georgian Ministry of Justice. They added that starting from 2008 to present day Georgia has been taking the second place in the ranking Doing Business, in 2007, the country took 11th place, and in 2006 - 16th.

Since 2004, the National Agency of Public Registry of the Ministry of Justice is conducting registration of real estate in Georgia.

The Department also reminded that the Doing Business project allows an objective assessment of legislation related to regulation of business, as well as its application in 183 countries around the world.

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