Hong Kong is 3rd most transparent property market in Asia
It recorded an overall score of 1.98.
Amongst Asian markets, Hong Kong ranked third in the 2022 Global Real Estate Transparency Index, which offers a benchmark of market transparency for property investors, developers, and corporate occupiers.
In a statement, JLL said Hong Kong ranked 16th worldwide, with an overall score of 1.98.
Under the index, Japan ranked first in Asia, landed 12th place globally, and is also under the “highly transparent” category.
Meanwhile, Singapore was at second in Asia, and 15th worldwide.
JLL Asia Pacific CEO Anthony Couse said better transparency promotes investor interest and boost tenant confidence in the Asia Pacific region.
“As a result, we expect to see more capital deployed into those markets that can demonstrate consistent efforts to make accurate data available, enforce legal protections for property ownership, and enhance the regulatory environment to facilitate the transactions," said Couse.
JLL and LaSalle Investment Management published the index to look into the real estate markets across the Asia Pacific.
The transparency ranking stemmed from the “availability and quality of performance benchmarks and market data, governance structures, regulatory and legal environments, transaction processes, and sustainability markers.”