A report released last week by Jones Lang LaSalle’s 2012 Global Real Estate Transparency Index reveals a renewed impetus in transparency improvements across the world’s real estate markets. Nearly 90% of markets have registered progress in transparency since 2010. The United States ranks as the world’s most transparent real estate market in 2012, followed by United Kingdom and Australia.
It is interesting to note that environmental sustainability has emerged as an important transparency factor with the UK, Australia and France being the most transparent markets in terms of real estate sustainability. The UK introduced the world’s first Green Building rating system while Australia has been the test bed for new environmental laws, regulations and incentives.
Why is Transparency Important?
Rising levels of transparency are associated with an increase in foreign direct investment – this is a powerful incentive to encourage free-flowing information and apply local law fairly and consistently.
Jones Lang LaSalle’s Real Estate Transparency Index charts the steady progress of real estate transparency in 81 markets across the globe. It highlights the important differences you experience when transacting, owning and operating in foreign markets. It also provides governments and industry organizations with a point of reference to measure and improve transparency within their own markets.
Source: Jones Lang LaSalleRead the Report