The latest world study which assesses the transparency of real estate markets positioned Spain in the nineteenth place, thus placing it amongst the 20 most transparent countries among 99
The ‘Global Real Estate Transparency Index’ (GRETI) developed by JLL and LaSalle Investment Management awarded Spain with the grade of “transparent” for its “good” performance across the 210 elements taken into account for the assessment. This grade was based on the Spanish market’s boosting of sustainability (9th in the subindex), the clarity of its performance indexes (17th), the corporate governance policy of its listed real estate companies (19th) and the trading procedures (8th). The Spanish real estate market is also ranked 18th in terms of implementation of ‘proptech’ and new technologies specific for the sector, as well as ‘Big Data’ digital and technical tools.
On this ranking, Sergio Fernandes, director of investments at JLL España, remarked that «the consolidation of the Spanish real estate market, as a transparent country, allows for the attraction of a growing number of investors interested in the real estate sector, who impose transparency and sustainability requirements for their strategies. A lower opacity is key for the creation of a healthy real estate environment and we hope the boost generated by the new technologies will accelerate the market’s transparency».
The report further concluded that, in general, there was an advance in terms of transparency in the world’s real estate markets, since 70% of the countries registered higher scores. The incorporation of policies to foster sustainability, environmental care and the good corporate governance were positive, highlighted the document.
Article by www.iberian.property