Singapore has been deemed “transparent” among the world’s real estate markets in 2014
The eighth edition of JLL and LaSalle Investment Management’s biennial Global Real Estate Transparency report ranked Singapore as number one in the region in the transparency of commercial real estate around the world.
With a composite score of 1.81, city-state is a few spots away from the “Highly Transparent” category. The reports covers 102 markets worldwide, and Singapore climbed up one rank to 13th globally.
For the first time, there are no Asia Pacific markets in the global top 10.
“All countries in emerging Southeast Asia have seen some advances (but less significant than 2012 when the sub-region accounted for three out of the top 10 global improvers). Greater availability of market data contributed to 2012’s improvement, while incremental changes in the regulatory/legal and transaction processes contributed to both the 2012 and 2014 results,” said the report.
Dr Chua Yang Liang, Head of Research South East Asia at JLL, opined that continuing institutional interest in Southeast Asia would help to drive rising transparency in the regulatory/legal environment as well as the real estate transaction processes. He also expects a young population in Southeast Asia, with higher education and increasing usage of social media, to push for greater real estate transparency going forward.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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