Traditional land market did not consider title as a factor for land value,
however, this behavior changes over time. There was a growing awareness
among landowners on the importance of land title in relation to its market value.
Since 1942 the value of untitled land has been decreasing while the value of
titled land has been increasing correspondingly. The real estate brokers
estimated the market value of titled land is higher by 25 percent to 30 percent
over than the untitled land. In spite of its importance, local government do not