Download - Elana panaritis
![Page 1: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/1.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
The Role of Property Rights in Green Investments on Real Property and Land
Elena PanaritisTBLI CONFERENCE EUROPE 2011
10-11 November 2011 – Grange St. Paul’s Hotel London, United Kingdom
![Page 2: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/2.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Who and What
Institutional economist and social entrepreneur
Transforming illiquid / informal / unreal to liquid property Pioneered it in Peru
Applied methodology with
Panel Group LLC PG Thought for Action Authored Prosperity Unbound: Building Property Markets
with Trust
![Page 3: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/3.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
The World in Perspective
The world in illiquid / informal property
US $9 trillion of US $9 trillion of
informal /illiquid property informal /illiquid property
Over 4 billion people affectedOver 4 billion people affected
![Page 4: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/4.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Distressed Markets & Property Rights
Illiquid Real Estate is an outcome of a
Broken Property Rights System
![Page 5: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/5.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Illiquid property varies Illiquid property varies
from from fully fully informal to informal to semi-informalsemi-informal
![Page 6: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/6.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
© Elena Panaritis 1615 L Street NW #`1200, Washington DC, 20036
![Page 7: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/7.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
© Elena Panaritis 1615 L Street NW #`1200, Washington DC, 20036
![Page 8: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/8.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 9: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/9.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 10: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/10.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 11: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/11.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
© Elena Panaritis 1615 L Street NW #`1200, Washington DC, 20036
![Page 12: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/12.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
© Elena Panaritis 1615 L Street NW #`1200, Washington DC, 20036
![Page 13: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/13.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
© Elena Panaritis 1615 L Street NW #`1200, Washington DC, 20036
![Page 14: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/14.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Broken property rights system
The extremes
Fully Informal: Inaccessible
Formal:No Risk
Semi Informal: High risk
![Page 15: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/15.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Environmental Impacts
…because of a broken property rights system
Environmental distortions
SYSTEMATIC EROSION OF CITIES AND RURAL AREAS
▪ Urban sprawl ▪ Land quality degradation ▪ Ineffective waste management▪ Increased carbon footprint
![Page 16: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/16.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Economic Impacts …because of a broken property rights
system
Economic distortions
FRAGILE UNDERLYING ASSET
▪ distorted valuations UP and DOWN ▪ distressed property markets▪ illiquidity of savings▪ limited labor mobility▪ weak capital markets▪ limited/ investment in infrastructure;
▪ e.g. telecom / utilities / energy / building improvement ...
![Page 17: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/17.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Impacts of a broken property rights system
Social distortions
ENDURING INEQUALITY – POVERTY – SOCIAL DISORDER
▪ growing violence – corruption – criminality▪ child labor increase▪ weak middle class▪ reduction of women’s (minority’s) participation in the wealth
pool and political voice▪ serious social discontent – weak political participation
![Page 18: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/18.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Solution: Transformationto tap on the socio-economic aspects
Successful Transformation requires Vision, Rigor, Trust
Understand the asset
Diagnose with Reality Check Analysis - Untangle
Align the interests of all key policy and market players – build partnerships
![Page 19: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/19.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
A Patchwork
![Page 20: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/20.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Reality Check Analysis
Identify & Isolate the problem Check institutions’ evolution throughout time
Diagnose / Design Solutions
![Page 21: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/21.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Align InterestsKEY: TRUST
Establish Trust through partnerships Align the interests of key policy and market players:
Private Capital
Government Citizens
Trust
![Page 22: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/22.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Success Stories: Margarita in Peru
Margarita: seamstress worth ~ $80/month in 1990today she is worth ~Thousands
Peru 1990: Hyperinflation, lawlessness, joblessness … and over 70% unreal estate
Staggering break-through results … $60M investment gave a 200-multiple return 12 agencies turned into 2 $7,000 to $14 7 years to 2 days No more intermediaries
![Page 23: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/23.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 24: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/24.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 25: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/25.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 26: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/26.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 27: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/27.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 28: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/28.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 29: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/29.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 30: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/30.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 31: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/31.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Success Stories: Peru Continued
Rapid increase in secure liquid property ownership ▪ With over 6 million beneficiaries
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
1992 1995 2001 2002Years
Peop
le
New formal owners
“the big jump”
![Page 32: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/32.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Peru: Positive socio-economic impacts of secure property rights issued by the
program
Reduced levels
of..
Increased levels of..
Security
Property value
Investment
Probability of child labor
Women’s involvement
Labor mobility
Cottage industry-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
120%Pe
rcen
t Cha
nge
Factors affected by securing property rights
![Page 33: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/33.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
Success Stories: Deborah in the US
Deborah in Washington DC:
was worth a welfare check….
mobilized the transformation of unreal to real estate in her neighborhood
![Page 34: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/34.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
© Elena Panaritis 1615 L Street NW #`1200, Washington DC, 20036
[email protected]; [email protected]
14
![Page 35: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/35.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
![Page 36: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/36.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
How can we keep on having success stories
Build Triple Bottom Line businesses
Partner with players that are willing / share the vision
Use Reality Check Analysis
Get involved…!!!!
![Page 37: Elana panaritis](https://reader036.vdocuments.pub/reader036/viewer/2022062901/58f0bd781a28ab05738b45fb/html5/thumbnails/37.jpg)
© Elena Panaritis 2330 Massachusetts Avenue, NW, Washington DC, 20008
[email protected]; [email protected]
www.prosperityunbound.com/blogFacebook: ProsperityUnbound group
Twitter: Elena_Panaritis
Elena Panaritis
Founder and Director Panel Group LLL