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United Kingdom, Australia also world’s most transparent real estate markets; MIST markets among leading improvers; African, Middle Eastern, Latin American markets lag
Among key findings from the report:
Notably, the 2012 Index highlights continued transparency deficiencies in many African, Middle Eastern and Latin American markets. Nations scoring the lowest on transparency, the so-called opaque markets, include Venezuela, Mongolia, Tunisia, Ghana, Iraq, Pakistan, Algeria, Belarus, Angola, Nigeria, and Sudan. Many of these countries were scored for the first time in this edition of the Index.
Jeremy Kelly, National Director, Global Research at Jones Lang LaSalle, said: “While steady progress in real estate transparency has been made during the past two years, much still needs to be done. The pace of regulatory and legal reform has been slow, and we have seen limited improvement on the transparency of transaction processes, despite recognition by government and industry bodies that transparent real estate markets are necessary.”
Kelly cited four main forces that are expected to drive further progress in transparency through the next update in 2014:
In recognition of the increasing relevance of environmental sustainability in real estate decisions, the 2012 Index now includes a separate Real Estate Sustainability Transparency Index for a sub-set of 28 countries, covering issues such as energy efficiency benchmarking and green building rating systems. The United Kingdom, Australia and France have emerged as the most transparent markets in terms of real estate sustainability.
Real Estate Sustainability Index, 2012Covering 28 countries
In addition to the new sustainability sub-set, the 2012 index has been enhanced in three main areas. The 2012 edition:
The 2012 Global Real Estate Transparency Index is available to investors and occupiers in multiple platforms, including report, website, PowerPoint and webinar.
About Jones Lang LaSalleJones Lang LaSalle (NYSE: JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.2 billion of assets under management. For further information, please visit www.joneslanglasalle.com.
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