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Real estate transparency improves across Southeast Asia

Several countries in Southeast Asia made notable improvements when it came to real estate transparency, according to a recent JLL report. The Global Real Estate Transparency Index 2020, a biannual research project from the consultancy, found that many countries in the region made significant progress over the past two years.

Thailand, Vietnam, the Philippines and Indonesia were among the top ten improved countries in regard to real estate transparency. Singapore was the region’s best performing country when it came to transparency and finished 15th globally. Malaysia was the only other Southeast Asian country to make the Global Real Estate Transparency Index 2020’s top 30.

A total of 99 countries and territories around the world are ranked in the report. The final real estate transparency score is based on six factors: investment performance; market fundamentals; listed vehicles; regulatory and legal indices; transaction processes; and sustainability. This was the 11th edition of the report.

Vietnam continues to improve

The Vietnam property market continues to improve, and this was highlighted by the fact the country rose five places in the JLL report. As a result of the jump, Vietnam is now classified as “Semi-Transparent”. This is an important step for the country as more international investors look to enter the property market.

"Vietnam has made further progress on the regulatory front with government bodies tightening their oversight to ensure rules and regulations are being adhered to in areas such as land-use planning and lending standards. The country’s strong economic prospects have drawn significant interest from both occupiers and investors, and this has led to increased competition and service offerings from property management companies," the report found.

The performance of Ho Chi Minh City, in particular, was cited as a key driver of real estate transparency in the country.