Transparent markets, well-defined and secure property rights and a proper legal framework are essential elements of any well-functioning market.  Real estate markets embody a significant part of the world’s wealth and are an important destination of household savings.  The crash of asset prices in 2008 and the subsequent financial crisis underscored the vital role that real estate markets play in the economy.

“Recovery, Sustainability, and Evolution: Perspectives on the Real Estate Economy” is forum to discuss how to create stronger and healthier real estate markets that will contribute to economic growth and avoid the mistakes of the past.  This forum will take place on 26 June 2012 at the Palais des Nations, Geneva, Switzerland, as the second event of the UNECE Green Economy Seminar series.  It is being organized by the United Nations Economic Commission for Europe (UNECE) and the UNECE Real Estate Market Advisory Group (REM).

The goal of this conference is to identify policies and strategies to develop well-functioning real estate markets that contribute to economic prosperity and sustainable development.  Speakers from the public sector, the United Nations, non-governmental organizations, the private sector and academia will discuss current initiatives in land administration and land management policy reform, training and human capital development for real estate professionals and policy makers, strategies for financing housing and real estate markets and the role of real estate markets in the economy as a whole.

This forum is part of a continuing effort by the UNECE to develop healthier real estate markets.  In 2010 UNECE REM published Policy Framework for Sustainable Real Estate Markets: Principles and Guidance for the Development of a Country’s Real Estate Sector, which provides guidelines for the creation of a robust real estate market that contributes to a sustainable economy.  This study gives policy makers and other interested parties a reference for their future work relating to real estate.  It offers institutional advice on issues such as the establishment of financial markets backed by real estate as collateral, harmonized valuation standards for real property and transparency in investment risk assessment.  The study also advocates a more integrated and holistic approach towards the establishment and management of real estate organizations, especially in countries with economies in transition.

Since 2010, UNECE REM has organized roundtables to promote the Policy Framework in Italy, Portugal, Ukraine, the Russian Federation and Brazil.

For more information on “Recovery, Sustainability, and Evolution”, please visit: http://www.unece.org/index.php?id=29511.