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Economic Logic of Land Interventions

Economic Logic of Land Interventions. Lesotho Land Economic Logic. Longer-term /Post-Compact Outcomes (3-5 years). Increase in productive investments by households& firms (increase use of land as an economic asset): A. Subleases and property investments by those who receive project titles

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Economic Logic of Land Interventions

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  1. Economic Logic of Land Interventions

  2. Lesotho Land Economic Logic Longer-term /Post-Compact Outcomes (3-5 years) Increase in productive investments by households& firms (increase use of land as an economic asset): A. Subleases and property investments by those who receive project titles B. Increased commercial and residential property investment and supply by those who access financial lending and by property developers -LNDC, Lesotho Housing and private developers Increase ability to monetize land value: increase subleases, building permits, subdivisions and transfers • Increase ability and security to realize full returns from investment: • Ability to develop and sell apartments/offices (commercial) • Increase tenure security/avoid loss of property (inheritance, women’s right to hold land while married, multiple form c’s) Increase Access to and Lower Cost of Finance: Increase mortgage number and values Improved Knowledge to Productively Allocate & Invest in Land: Rural land allocation authorities, Municipal Planning & the Public Direct Value of Lower Transaction Cost: A.Reduction in time/cost to conduct a formal property transaction (first time registration& transfer) B. Operational savings for banks in loan transactions C. Lower time and cost to resolve land conflicts; increase resolution of conflicts Shorter-term/End of Compact Outcomes (1-2 years) Confidence in using formal land system (LAA) and growth of formal market Outputs Leases for 55,000 peri-urban/urban parcels; inventory of 5,000 rural parcels Establishment of the LAA, Lease System & Related Capacity Building Training of rural land allocation authorities, surveyors, land officials & public outreach on LAA, land leasing, legal reforms &use of lease for economic benefit Land Act (allowed 80% foreign/20% domestic ownership; removal Minister consent on mortgages, joint title), Legal Capacity of Married Persons Act (CP), LAA Act, Sectional Title, land courts& rules, lower transfer fees, related legal & regulatory reforms & streamlining of procedures Clarification and Formalization of Property: Regularization& Improvement of Rural Land Allocation Processes Strengthening of Land Administration Agency: Modernization & Institutional Strengthening Public Outreach (Public Outreach &Training) Legal, Regulatory and Policy reform to Strengthen Property Rights and Enable Land Markets (Policy and Legal Reform) Activities (sub-activities in Lesotho)

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