Covering 109 markets worldwide, JLL’s Global Real Estate Transparency Index quantifies transparency based on 139 variables relating to transaction processes, regulatory & legal frameworks, corporate governance, performance measurement and data availability. Higher real estate transparency is generally associated with stronger investor & corporate real estate activity.
Explore the visualisation below to find out more about Transparency Tiers and individual markets' ranking. Bubble size represents the relative real estate market size of each country.
Two-thirds of markets saw improvements in their Index score from 2014, while new entrants also made their mark. Asia Pacific continues to lead the way as the most improved region, with the Americas showing the most limited progress overall. There have been modest gains in Europe, the Middle East and Africa. At a country level, Slovenia, Serbia, Bulgaria, Botswana and Taiwan were the top global improvers (by score) in 2016. Some countries, however, struggle to maintain market transparency due to political and economic challenges and see their scores deteriorate.
Hover over the highlighted markets below to find out more.
OpaquePredominantly African and Central American countries, many of which face geopolitical and economic barriers to progress. They lack regulatory frameworks and market data, while corporate governance is weak. A number of these markets are regressing.
Low TransparencyAfrican, Asian and South American ‘development’ markets, increasingly on the radar of expanding corporates, which are seeing regulations and market tracking introduced for the first time. Technology may enable this group to leapfrog normal evolution.
Semi-transparentHome to a quarter of global corporate HQs (and growing), this group, dominated by large emerging markets, attracts 5–10% of global real estate investment. There is a disconnect between regulation and enforcement but growing middle classes are mobilising against corrupt practices.
TransparentTransparent countries account for 20% of global real estate investment with high levels of investment intensity (investment relative to market size). They are home to 30% of global corporate HQs, have strong regulation, straightforward transaction processes and robust corporate governance.
These highly liquid markets account for 75% of global real estate investment and are home to half of global corporate HQs. Some are moving towards new levels of transparency, aided by advancements in technology.
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