Edito et opinion

The top improvers leading global real estate transparency progress

Global Real Estate Transparency Index, 2020

Asia Pacific markets see strongest transparency improvement

While overall progress has been muted, some countries have made notable gains in transparency with Asia Pacific’s countries registering the strongest average improvements. The region dominates the list of top global improvers, accounting for six of the most improved territories since 2018.

Top Transparency Improvers, 2018-2020

South and Southeast Asian markets register largest gains

South and Southeast Asia have led advances in Asia Pacific. India has registered the largest regional improvement, with progress in the country’s REIT framework - including the launch of its first REIT in 2019 - attracting greater interest from institutional investors. Increased activity from foreign investors and corporates has helped propel demands for enhanced market intelligence, while India has edged into the top 20 for Sustainability Transparency, driven by increased adoption of green building certification.

In Southeast Asia, Thailand, Vietnam, the Philippines and Indonesia are all among the global top 10 improvers. Progress in Thailand and Vietnam’s main cities, Bangkok and Ho Chi Minh City, has pushed each into a higher tier - ‘Transparent’ and ‘Semi-Transparent’ respectively.

Mainland China’s leading cities edge into ‘Transparent’ tier

Mainland China is also among the top improvers, supported by a burgeoning proptech sector, wider adoption of sustainability certification and better co-ordination of land use planning. While there remains a large disparity in transparency levels within the country Mainland China’s leading cities, Shanghai and Beijing, have moved into the ‘Transparent’ tier for the first time.

Sustainability drives progress among top improvers

Abu Dhabi has emerged as the top global improver in 2020, with its score boosted by government initiatives to improve corporate and real estate sustainability. Costa Rica, also among the top 10 global improvers, has seen gains underpinned by continued enhancements to its sustainability standards. Meanwhile, new requirements for large companies to implement climate action plans have helped Belgium join the top improvers.