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27. Juni 2012 
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Transparency in global real estate markets increases
A biennial index released today by Jones Lang LaSalle and LaSalle Investment Management reveals that recovering real estate markets have prompted renewed impetus to transparency improvements following a slowdown in progress during the financial crisis in 2008 and 2009. Nearly 90 percent of markets have registered advances in real estate transparency during the past two years, driven by improving market fundamentals data and performance measurement, combined with better governance of listed vehicles.
The 2012 Global Real Estate Transparency Index, a proprietary Jones Lang LaSalle survey that calculates transparency in 97 real estate markets worldwide by weighting 83 different factors, provides investors and corporate occupiers with data and analysis critical to transacting, owning and operating in global markets. The Index also assists governments and other industry organizations interested in improving transparency. Among key findings from the report:
• The United States ranks as the world’s most transparent real estate market in 2012, followed closely by the United Kingdom and Australia. Also in the ‘Highly Transparent’ category: Netherlands, New Zealand, Canada, France, Finland, Sweden and Switzerland.
• The gap in transparency between Western Europe and some of the main Central European markets has been virtually eliminated as core CEE markets approach the mainstream. Ranked 19th globally Poland, for example, has transparency levels comparable to Western Europe and is now considered by some investors as a ‘core’ market.
• Environmental sustainability has emerged as an important transparency factor with the United Kingdom, Australia and France the most transparent markets in terms of real estate sustainability. The Czech Republic, CEE leader in the sustainable development, has occupied the 5th position in the world-wide ranking.
• The Index reaffirms the ascent of the MIST growth markets (Mexico, Indonesia, South Korea and Turkey), which all feature among the leading improvers. Turkey once again leads in transparency improvement, with Romania and Croatia rated 4th and 5th respectively.
• Regionally, Latin America has seen the strongest progress in transparency. Brazil’s Tier 1 cities rank second globally in transparency improvement and now sits in the ‘Transparent’ category. Mexico sits in third position globally (in terms of progress).
While the world economy is still in recovery, the 2012 Index reveals that real estate investors and corporate occupiers are widening their activity across a broader range of markets. This cross-border activity encourages faster rates of transparency improvement in growth and emerging economies as the markets open up further to international competition and their real estate sectors embrace global best practices. John Duckworth, Managing Director, Central and Eastern Europe at Jones Lang LaSalle said: “Central and Eastern Europe is a clear beneficiary of the greater cross-border activity of investors. Strong market fundamentals encourage more capital flows and the region is a leading outsourcing destination in Europe. Importantly, markets such as Poland, the Czech Republic, Hungary and Slovakia have seen transparency levels enhanced by the establishment of Research Forums in the major cities. These collaborative forums were founded by international real estate service firms such as Jones Lang LaSalle to provide a platform to share non-sensitive real estate market information. Forums have been set up for the Warsaw, Prague, Brno, Budapest, Bratislava, Bucharest, and major Polish office markets, and there are plans to extend into more CEE cities such as Zagreb and Belgrade. Industrial and Retail forums either exist as for example in Poland, or are being organised.”
The 2012 Global Real Estate Transparency Index, a proprietary Jones Lang LaSalle survey that calculates transparency in 97 real estate markets worldwide by weighting 83 different factors, provides investors and corporate occupiers with data and analysis critical to transacting, owning and operating in global markets. The Index also assists governments and other industry organizations interested in improving transparency. Among key findings from the report:
• The United States ranks as the world’s most transparent real estate market in 2012, followed closely by the United Kingdom and Australia. Also in the ‘Highly Transparent’ category: Netherlands, New Zealand, Canada, France, Finland, Sweden and Switzerland.
• The gap in transparency between Western Europe and some of the main Central European markets has been virtually eliminated as core CEE markets approach the mainstream. Ranked 19th globally Poland, for example, has transparency levels comparable to Western Europe and is now considered by some investors as a ‘core’ market.
• Environmental sustainability has emerged as an important transparency factor with the United Kingdom, Australia and France the most transparent markets in terms of real estate sustainability. The Czech Republic, CEE leader in the sustainable development, has occupied the 5th position in the world-wide ranking.
• The Index reaffirms the ascent of the MIST growth markets (Mexico, Indonesia, South Korea and Turkey), which all feature among the leading improvers. Turkey once again leads in transparency improvement, with Romania and Croatia rated 4th and 5th respectively.
• Regionally, Latin America has seen the strongest progress in transparency. Brazil’s Tier 1 cities rank second globally in transparency improvement and now sits in the ‘Transparent’ category. Mexico sits in third position globally (in terms of progress).
While the world economy is still in recovery, the 2012 Index reveals that real estate investors and corporate occupiers are widening their activity across a broader range of markets. This cross-border activity encourages faster rates of transparency improvement in growth and emerging economies as the markets open up further to international competition and their real estate sectors embrace global best practices. John Duckworth, Managing Director, Central and Eastern Europe at Jones Lang LaSalle said: “Central and Eastern Europe is a clear beneficiary of the greater cross-border activity of investors. Strong market fundamentals encourage more capital flows and the region is a leading outsourcing destination in Europe. Importantly, markets such as Poland, the Czech Republic, Hungary and Slovakia have seen transparency levels enhanced by the establishment of Research Forums in the major cities. These collaborative forums were founded by international real estate service firms such as Jones Lang LaSalle to provide a platform to share non-sensitive real estate market information. Forums have been set up for the Warsaw, Prague, Brno, Budapest, Bratislava, Bucharest, and major Polish office markets, and there are plans to extend into more CEE cities such as Zagreb and Belgrade. Industrial and Retail forums either exist as for example in Poland, or are being organised.”
