Global Real Estate Transparency Getting Better
International property advisers Jones Lang Lasallo, or JLL, recently released their Global Real Estate Property Index for 2016. Today, I will provide some highlights from the report.
– Transparency scores seem to be improving, as there was an average 2.4 percent increase from 2014 to 2016.
– New legislation easing red tape, setting higher ethical standards, and enhancing transaction process to make it smooth and transparent are some of the reasons behind the progress.
– Some of the top transparent countries are Australia, Canada, United Kingdom, and United States.
– Some of the Sub-Saharan countries such as Botswana and Zambia are showing significant improvements.
– Some of the least transparent countries are Libya, Honduras, Djibouti, Senegal, Venezuela, and Ivory Coast.
– In the Middle East and North Africa region, Dubai (48) is the most transparent followed by Abu Dhabi (59).
Author/Copyright: Ahmed Dawn www.adawnjournal.com
– Saudi Arabia (63) and Egypt (65) have shown strong advancement and moved into the Semi-Transparent group.
– The top ten highly transparent countries account for 75 percent of the global commercial real estate investment.
– Capital injection into global real estate is rapidly increasing. The amount is $700 billion now, but is expected to exceed $1 trillion within the next decade.
– Panama Papers revelations have forced greater real estate transparency and helped fight international political corruption.
– Technology continues to help bring more transparency. Some of the countries that have used technology successfully to bring more transparency are Kenya, Ghana, and Ecuador.
– Six of the top transparent countries are in Europe.
– The United Kingdom is the world’s most transparent real estate country.