Transparency To Improve In Thailand Real Estate
According to the eighth edition of JLL and LaSalle Investment Management’s biennial Global Real Estate Transparency report, Transparency has considerably improved in the country among he property market here in the Kingdom for the last past two years.
Singapore remained the most transparent country in Southeast Asia, followed by Hong Kong and Malaysia. All three were earmarked as being ‘transparent’. Thailand reaches the 36th place in the ‘semi-transparent’ sector, one place behind China but ahead of the Philippines and Indonesia.
Most of Southeast Asian nations have not seen change in their rankings but Thailand has slightly pushed its way forward from the 40th to the 36th globally thanks to improving measures in accounting standards and corporate governance. Great availability to market data is also responsible for this improvement.
Globally, the report from JLL and LaSalle Investment Management noted: “Going forward, the region should see further progress in transparency improvements. Demand from both international investors and corporate occupiers as well as more discerning domestic players should continue to lead to better information on market fundamentals.”
Dr. Chua Yang Liang, Head of Research South East Asia at JLL, said: “Continuing institutional interest in South East Asia would help to drive rising transparency in the regulatory/legal environment as well as the real estate transaction processes.”
Moreover, he expects the younger generation in South East Asia, with higher education and intense usage of social media, to enhance transparency among the Real Estate industry.