Singapore has joined the ranks of the world’s most transparent real estate markets, overtaking Hong Kong because of improvements in digital services and a robust concentrate on sustainability. The city-state was ranked as “Highly Transparent” in the newest Global Real Estate Transparency Index (GRETI) on Aug. 27, which ranks global real estate markets based on data and research.
The GRETI report is published every two years by JLL and LaSalle. This 12 months’s edition assessed transparency in 89 countries and territories and 151 cities around the globe.
Debut in “Highly Transparent” Status
For the primary time, Singapore has been ranked within the “Highly Transparent” category of the Global Real Estate Transparency Index (GRETI), the very best category of the index. With a rating of 1.92, Singapore is now the fourth “highly transparent” market within the Asia-Pacific region, after Australia, New Zealand and Japan.
Globally, Singapore has risen to thirteenth place, from a rating of 1.96 in 2022. The top spot on the list continues to be occupied by the United Kingdom, followed by France and the United States.
Commitment to Sustainability and Digital Transformation
Singapore rose to the highest spot because of its strong commitment to sustainability. The country would require large corporations to report climate data from 2025.
In addition, Singapore is actively developing its digital sector, including the true estate market, through the Real Estate Transformation Map (ITM) 2025. Launched in 2018, ITM 2025 goals to digitise real estate transactions, promote technology adoption and enhance the abilities and professionalism of the true estate workforce.
About the report
JLL has published the Global Real Estate Transparency Index since 1999, which goals to measure the extent of transparency of real estate markets in numerous countries.
The index classifies markets with a rating below 1.96 as “highly transparent” and markets with a rating between 1.97 and a pair of.65 as “transparent”, with lower scores indicating greater market transparency and informational value to investors.
The assessment covers various elements equivalent to performance, legal and regulatory rules, market fundamentals, transaction processes, corporate governance and sustainability activities.
