Limited impact seen for property registry

Long-awaited provisional rules for a unified national property registry were released on Monday, but analysts said that the market impact will be limited for now.

The regulations give the Ministry of Land and Resources a mandate to guide and supervise real estate registration work nationwide, ending a patchwork system overseen by various agencies.

Every government jurisdiction that is at or above the county level is supposed to establish a special agency to be responsible for real estate registration.