Once land is traded as a commodity a land market is considered to exist. The land market most directly affects the urban environment and the quality of life in cities. Efficient and equitable land markets are a prerequisite for well functioning cities. . Efficient functioning of land markets require efficient and updated land registration systems which clearly indicate legal ownership of land. The key to efficient land markets is the easy and rapid availability of developed land. This does not mean less regulation. In fact in the urban periphery there is need for more planning controls .