In the newly released biannual Global Real Estate Transparency Index (GRETI) 2018 by property consultancy firm JLL, Thailand is ranked 34th, an improvement from the 2016 edition of the Index where the country was ranked 38th.
Compared to the other six countries from Southeast Asia covered by the Index, Thailand is ranked the 3rd most transparent real estate market in the sub region followed by Indonesia, Philippines, Vietnam and Myanmar that were ranked globally 42nd, 48th, 61st and 73rd respectively.
This 10th edition of the Global Real Estate Transparency Index (GRETI) contains the most comprehensive country comparisons of data availability, governance, transaction processes, property rights and the regulatory/legal environment around the world.
The 2018 Index covers 100 countries and 158 city markets, and the number of individual factors covered has increased by 36% to 186 factors.
Mrs. Suphin Mechuchep, Managing Director of JLL, says “Transparency across Thailand’s real estate markets has continuously improved over the last decade thanks largely to increased availability of and access to market data. While the growth of listed companies and real estate investment vehicles has contributed a lot to improving financial disclosures, greater regulatory enforcement, the planned introduction of a new property tax system and steps to digitise its land registry will underpin the country’s improvement in real estate transparency further.”
“The improved level of transparency represents a sign of growing maturity of Thailand’s real estate market. It helps owners, investors and occupiers identify opportunities and anticipate challenges more accurately, and consequently make better real estate decisions,” Mrs. Suphin adds.