Helping create real estate markets in Russia

Twelve high-ranking Russian land management officials are on campus for training this week, funded by the World Bank.

The training is part of the “Land Reform Implementation Support Program,” which is helping Russia develop real estate markets for the first time.

Very recently, it became legal to buy and sell certain types of land in Russia. The country has an opportunity to make real estate a vital part of its new economy. By illustrating the elements of well-functioning real estate markets in the United States, UW–Madison experts will provide a dynamic and successful model for the Russian delegation.

The visitors include an adviser to Russia’s Duma, or parliament, and the heads of several cadastre and land committees. The visitors will study the general characteristics of land markets, land valuation, methods of taxation, mortgage and credit. Visits to local lending institutions, real estate brokers and appraisers, and government land regulation agencies will allow the Russians to observe the application of land market practices in the United States.

The Land Tenure Center and Business School have organized the program, led by LTC Faculty Associate Peter Bloch and Business School Senior Lecturer Roderick Matthews. Established in 1962, LTC conducts research and training and provides technical assistance on issues relating to landownership, land rights, land access and land use. For more information, call (608) 262-3412.