Transparency Ranking Sees Minor Progress in the Region
July 15th, 2016
The property agency Jones Lang Lassalle (JLL) Real Estate Transparency Index continued to rank Australia and New Zealand in the ‘highly Transparent’ category for 2016. Australia has edged up in the the JLL ranking for real estate transparency to 2nd, alongside the United Kingdom, United States and Canada as the world’s most transparent countries.
Hong Kong and Singapore were ranked No. 1 in parallel in the Asia region. Both markets are on the border of the ‘highly transparent’ category in overall transparency, JLL explained in the ranking.
In the Asia Pacific region, Taiwan was the biggest improver this year in the ranking, moving up a category. In 2016, a consolidated housing and land tax was introduced which brought Taiwan "in line with international standards and helped correct a flaw in the taxation system", according to the property agency.
China’s Tier 1 cities (i.e. Shanghai and Beijing) have shown the greatest improvements in transparency in the country, led by ‘fundamentals’ , these markets are on the cusp of the ‘transparent’ tier, according the JLL, adding overall key markets – including the top-tier cities in China and India, as well as Japan and South Korea – made small while moderate progress.
At the other end of the spectrum, Myanmar has held onto the title as the least transparent market in Asia Pacific, but moderate progress has been made following significant economic and political reforms
The article was published on 15 - 07- 2016 (15:55M GMT+800)
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