Transparency up in real estate
India is among the countries in the Asia Pacific region that have shown the biggest improvement in real estate transparency, says the latest Global Real Estate Transparency Index drawn up by the firm Jones Lang LaSalle and LaSalle Investment Management, its real estate investment management subsidiary. 0The biggest improvers in the Asia Pacific region were India, China and Vietnam, informs the real estate services firm, which has pointed out that emerging markets had signi
ficantly improved their levels of real estate transparency.
However, the gains were ‘relatively modest’ for most countries in the region, particularly when compared with the past and the recent gains made by countries in Europe, West Asia and North Africa.
The index compared transparency in 82 real estate markets around the world. Transparency levels have been improving globally, as governments seek to streamline regulatory and legal hurdles to aid cross-border movement of capital and corporate facilities.
It now places India’s tier-1 and -2 cities in the semi-transparent category, which includes countries such as Taiwan, South Korea, Thailand and the Philippines from the region and China’s tier-I cities. Anuj Puri, chairman and country head, India, Jones Lang LaSalle, said the issue of real estate transparency at the city level was gaining importance as real estate investors and corporates venture into new regions in their search for higher returns or cost-effective locations.
T. RAMACHANDRAN
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