Serbia gets digital real estate registry prior to end of year

- The Republic Geodesic Institute will develop unique digital real estate registry in Serbia prior to end of year 2010 - Nenad Tesla, the Director of that Institute, announced today (February 22, 2010).

He said at the regional conference on use of information-communication technologies in property administration that all data in the real estate registry were available at local level, while the aim was to made it possible for everyone to access central digital registry.

The Head of the World Bank's Office in Serbia, Simon Gray, said that modernization of the information communication system represented the issue of crucial importance for provision of services and that it would enable transparency, efficiency and availability of data on property.

He said that good information system enabled provision of safe ownership rights, massive appraisal of properties and coordination of government institutions.

- A well-organized registry is necessary for efficient market. That implies safe ownership of properties, which is a condition for the development economy - Gray assessed.

The Republic Geodesic Institute started implementation of the project for improvement of the real estate registry and registration of rights in Serbia in 2004, which is partially financed from the World Bank's loan.