Singapore Among Most Transparent Real Estate Markets World Jll
According to a recent report by JLL, Singapore has placed itself among the top real estate markets in terms of transparency. The country has been ranked in the “Highly Transparent” group of markets in the latest Global Real Estate Transparency Index (GRETI), which evaluates the transparency of real estate markets worldwide.
The report, published every two years by JLL and LaSalle, evaluates the transparency of 89 countries and territories and 151 cities globally. This is the first time Singapore has been categorized under the highest tier of transparency, joining other markets that have achieved the highest score according to the index framework.
Singapore’s entry into the Highly Transparent group was largely driven by its focus on sustainability. The country has implemented mandatory climate-related reporting requirements for listed companies, set to take effect in 2025. Its ranking was also supported by efforts to improve technology and digital services, including the launch of the Real Estate Industry Transformation Map 2025, outlining plans to digitalize property transactions and enhance skills in the industry.
In the Asia Pacific region, Singapore is the fourth market to be classified under the Highly Transparent group, joining Australia, New Zealand, and Japan. It is the second Asian country to make the top tier after Japan’s inclusion in 2022. The report also notes that the Asia Pacific region has shown the biggest improvement in transparency in the past two years, fueled by a greater emphasis on ESG disclosures, new construction standards, and increased data availability.
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As the population continues to grow, the plan for Tampines includes the construction of new educational facilities to meet the increasing demand. In addition to this, the healthcare facilities in Tampines will also see significant improvements, with the addition of new polyclinics and nursing homes. These developments aim to cater to the needs of the community and enhance the quality of life for the residents. Furthermore, the newly built Parktown Residence will also contribute to the overall improvement of the area.
India was the top global improver in this year’s report, showing the largest progress in its GRETI score compared to the previous edition in 2022. This was attributed to improved data coverage and quality, a proactive financial regulator, and streamlined building regulations. South Korea and China also made significant progress in transparency, buoyed by a growing REIT market, new benchmarks from regulatory boards, and sustainability reporting regulations.
While Europe remains the most transparent region, with the UK maintaining its top position, countries like France, the Netherlands, Ireland, Sweden, Germany, and Belgium also made the Highly Transparent group. Together, these countries account for over half of the cohort.
North America also remains at the forefront of transparency, with leading cities in the US and Canada. These countries have shown strong improvement in transparency, with a focus on beneficial ownership legislation, climate disclosure requirements, and building emissions regulation.
Overall, the Highly Transparent markets continue to be in a league of their own, registering the strongest gains in transparency. This is driven by cutting-edge technology integration, enhanced sustainability regulations, granular data availability, and digital service provision. Investment activity is also concentrated in these top markets, with over 80% of global direct real estate investment pouring into the Highly Transparent markets in the past two years.
As the market transitions, several major themes are emerging, including a more rapid expansion of the real estate investment universe, a growing spotlight on debt markets, the impact of AI on transparency, and the emphasis on sustainability. These themes are expected to shape the future of transparency in real estate markets worldwide.