JLL’s Global Real Estate Transparency Index quantifies transparency based on 139 variables relating to transaction processes, regulatory & legal frameworks, corporate governance, performance measurement and data availability. Higher real estate transparency is associated with stronger investor & corporate real estate activity. To find out more about JLL's Global Real Estate Transparency Index 2016, visit http://www.jll.com/transparency

1. 5 Tiers of Global
Real Estate Transparency
Covering 109 markets worldwide, JLL’s Global Real Estate Transparency Index quantifies transparency
based on 139 variables relating to transaction processes, regulatory & legal frameworks, corporate
governance, performance measurement and data availability. Higher real estate transparency is associated
with stronger investor & corporate real estate activity.​​​​​​​
Canada consolidates position
due to improving performance
measurement indices.
Germany moves to ‘Highly
Transparent’ tier.
Poland moving towards ‘Highly
Transparent’.
Taiwan, Slovakia and Romania
move into ‘Transparent’ tier.
Japan jumps 7 places on
back of improving market
fundamentals data.
Ghana, Nigeria and Pakistan
move from ‘Opaque’ into ‘Low’.
Debt crisis is having a negative
effect in Puerto Rico.
Transparent
Semi-Transparent
Low Transparency
Transparent countries account for 20% of global real estate investment with high levels of
investment intensity (investment relative to market size). They are home to 30% of global
corporate HQs, have strong regulation and robust corporate governance.
Home to a quarter of global corporate HQs (and growing), this group, dominated by large
emerging markets, attracts 5–10% of global real estate investment. There is a disconnect between
regulation and enforcement but growing middle classes are mobilising against corrupt practices.
Highly Transparent
Major Movers: Countries that saw the most significant changes in the past 2 years
These highly liquid markets account for 75% of global real estate investment and
are home to half of global corporate HQs. Some are moving towards new levels of
transparency, aided by advancements in technology.
‘Development’ markets that are targets for corporates in Africa, Asia and South America. While
corporate governance is generally weak, stronger regulation is being introduced and market tracking
established. Technology advancements are set to enable this group to leapfrog normal evolution.
Panama struggles to maintain
transparency.
Political and economic
challenges weaken transparency
in Lebanon, Mozambique and
Venezuela.
Myanmar among top global
improvers, but from a low base.
Opaque
Dominated by African & Central American countries where geopolitical and economic challenges
are constraining progress, these markets are characterised by limited regulatory framework, weak
corporate governance with market data almost non-existent.
To find out more about Real Estate Transparency
and country ranks, visit:
www.jll.com/transparency
COPYRIGHT JONES LANG LASALLE IP, INC 2016
Slovenia, Serbia and Bulgaria
are top global improvers.
Saudi Arabia and Egypt nudge
into ‘Semi-Transparent’.
Regulatory reforms boost
transparency in India.
Vertical position is based on Transparency Rank:
JLL’s Global Real Estate Transparency Index (2016) is based on: performance measurement, market fundamentals,
governance of listed vehicles, regulatory and legal environment and the fairness of transaction processes.
Bubble size is based on relative Real Estate Market Size:
The estimated value of all institutionally-owned commercial real estate assets within a country
Source: LaSalle Investment Management, latest year
Asia PacificEurope MENA Sub-Saharan AfricaAmericas