Global realty transparency index 2018

1/7/2018 239 International Affairs | International Institutions | View Recent Current Affairs

  •  Jones Lang LaSalle Inc. (JLL) has released the Global Real Estate Transparency Index 2018.

Highlights:

  • India has improved its ranking by one notch to 35th in the global real estate transparency index, driven by policy reforms and liberalisation of FDI rules in property as well as retail sectors.
  • India was ranked 36th in the index during the last bi-annual survey conducted in 2016 and 40th in 2014. The country’s real estate market is currently placed in the ‘semi-transparent’ zone.
  • The ranking is expected to improve further in the next survey in 2020, on the back of several government initiatives such as Real Estate (Regulation and Development) Act (RERA), GST and Benami Transactions Act.
  • UK is at the top position followed by Australia and the US. France, Canada, Netherlands, New Zealand, Germany, Ireland and Sweden are in top 10 in the list of 100 countries.
  • Sri Lanka is at the 66th position and Pakistan at 75th among south Asian countries. Venezuela is the least transparent market with 100th rank.
  • Among BRICS nations, both China and South Africa remained on the same rank 33rd and 21st position, respectively, while, Brazil slipped to 37th position and Russia remained at 38th rank.
  • India has emerged as one of the top ten countries to register maximum improvement in transparency in real estate over the last two years.
  • India’s improvement in the transparency scores across all markets has started to benefit the nation in the form of increased volumes of international capital being deployed into the country.
  • The strengthening of information in public domain, digitisation of property records and according ‘industry status’ to affordable housing also helped in higher ranking. “Private equity (PE) investments into realty sector is one of the best indicators of the confidence of the investor community and the confidence is closely linked with the transparency of the property markets and improvement in transparency.

About the index:

  • The 2018 Global Real Estate Transparency Index covers 100 markets and is based on 186 indicators.
  • These variables are divided into six areas –performance measurement, market fundamentals, governance of listed vehicles, regulatory & legal frameworks, transaction process and environmental sustainability.
  • The Index scores markets on a scale of 1 to 5 (with 1.00 being the highest possible score). Depending on their overall performance, markets are assigned to one of five transparency tiers.

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