According to eighth global real estate transparency index - put
together by JLL - the top improvers in the market have correlated
with a surge in foreign direct investment and corporate occupier
activity.  Investors are helping to accelerate transparency
reforms, and governments are realising that poor transparency
levels are likely to affect inward investment levels, long term
growth prospects and the general quality of life.

The UK tops the list, followed by the USA, Australia, New
Zealand and France.  The report highlighted government
policies to encourage a culture of 'open data' as being a key
driver in the increase of transparency.

The media spotlight on transparency is believed to be boosting
awareness, with the report noting that the occurrence of several
high-profile corruption scandals and building accidents have shone
the spotlight firmly onto the real estate sector, leading to
multiple reforms in different countries.

An increase in cross border investment is helping to accelerate
the pace of change.  The improvement of market fundamentals
combined with stronger economic growth have enabled governments and
real estate professionals to refocus on enforcing transparency
issues, issues that had been put on the back burner during the
global financial crisis.

The report has also highlighted the rising expectations of the
millennial generation for increased transparency and accountability
of governments and commercial organisations; expectations that have
only increased as a result of social media usage and a number of
other sustainability tools including minimum energy standards,
green building rating systems and financial performance measurement
of sustainable buildings.

Whilst a number of the most transparent markets continue to be
dominated by Anglophone markets, the top improvers in 2014 are
dominated by Sub-Saharan African countries, with transparency
pushing into the frontiers of global real estate.  The report
does highlight that whilst some progress is being made across the
continent, a lot of work is still required.

A number of eastern European countries feature amongst the top
improvers, including Romania, Serbia and Hungary.  Ukraine,
largely owing to its current state of political uncertainty, has
regressed.

No South American country appears in the top 20 global index for
transparency, despite the fact that Colombia and Peru have achieved
increases as a result of strong economic growth. 
  Improvements in the Asia Pacific region have been
steady, but there are no Asia Pacific markets in the top 10 - a
first.  Competition to be the most transparent market in Asia
has increased, though, with Singapore moving head of Hong Kong.

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