Jones Lang LaSalle and LaSalle Investment Management have released their 2010 Commercial Real Estate Transparency Index, which shows that Australia is the world’s most transparent real estate market in 2010, pushing Canada into second place. Although one-third of markets globally registered no change or a deterioration, real estate transparency continues to improve, albeit moderately, in the majority of markets. Turkey tops the list of transparency improvers, with progress reported in China, India, Poland, Portugal, Romania, Greece, and Hungary. Modest declines in transparency were registered in countries such as Pakistan, Kuwait, Venezuela, Dubai, and Bahrain.
“The 2010 Global Real Estate Transparency Index reveals a notable slowdown in the progress of real estate transparency over the past two years,” says Jacques Gordon, global head of strategy for LaSalle Investment Management. “It suggests that the recent turmoil in global financial, economic, and real estate markets has impacted on market behavior, with real estate players focusing on survival rather than market advancement. It is interesting to note that the most highly transparent countries experienced illiquidity and volatility over last two years, despite their positions at the top of the transparency rankings. That said transparency does appear to speed up the restructuring process.”
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