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Local real estate market, one of the most transparent worldwide

Romania joins the ranks of Dubai, Ukraine, China and India, according to a report by consultancy company Jones Lang LaSalle.

Romania has made great headway over the past two years about its degree of real estate transparency, as this country has been included, along with Dubai, Ukraine, China and India, among the ‘semi-transparent’ states real estate wise. These are the conclusions of the Report Global Real Estate Transparency Index 2008 drawn up by consultancy company Jones Lang LaSalle which examined 82 states. The world study Global Real Estate Transparency Index 2008 conducted by Jones Lang LaSalle divides countries in five transparency categories: highly transparent, transparent, transparent, semi-transparent, low transparency and opaque. The factors taken into account are lack of corruption, respect for ownership right, legal environment and market conditions. The real estate market in Romania, along with those in Ukraine, China, Dubai and India, advanced from low transparency, according to the 2006 report, to semi-transparent, on par with those in Croatia, Estonia, Latvia and Lithuania. Canada tops the list A review of the results obtained over time shows the US and Australian markets respectively as the most transparent worldwide. Canada also ranks top of the 82 states examined in terms of service quality and financial transparency. Next in line are New Zealand, Great Britain, The Netherlands, France, Sweden and Belgium. Nonetheless, a high level of transparency does not eliminate risk nor guarantees significant profits, LaSalle officials say. The report shows that emergent countries have made the biggest progress, especially where governments plan to draw foreign investors. Many of them prefer the markets that are mature, open and transparent, such as Great Britain, Canada, The Netherlands and Hong Kong. And yet, the most opportunistic investors would also have in view the markets less transparent and semi-transparent, such as those in Eastern Europe, Latin America and Southern Asia. They will however seek bigger profits to offset the risks associated with a lower transparency level, experts at Jones Lang LaSalle say. Sursa: http://www.nineoclock.ro

Tags: transparent transparency estate market lasalle

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