Singapore Among Most Transparent Real Estate Markets World Jll
Singapore has solidified its position as a leading real estate market in terms of transparency, according to a recent report by JLL. The country has been placed in the “Highly Transparent” group of markets in the latest Global Real Estate Transparency Index (GRETI), which evaluates real estate markets worldwide based on market data and information gathered through a survey.
The report, published every two years by JLL and LaSalle, assessed market transparency in 89 countries and territories, covering 151 cities around the world. This is the first time Singapore has been categorized under the Highly Transparent group, which comprises markets that achieve the highest scoring band according to the index framework.
Singapore’s entry into the top tier was largely due to its focus on sustainability, with the country introducing mandatory climate-related reporting requirements for listed companies that will take effect in 2025. In addition, the city-state’s ranking was supported by its efforts to improve technology and digital services. This includes the launch of the country’s Real Estate Industry Transformation Map (ITM) 2025, which outlines plans to digitalize property transaction processes, promote technology adoption by property agencies, and enhance skills.
Europe continues to lead the way, while the Asia Pacific region is catching up. Singapore is the fourth Asia Pacific market to join the Highly Transparent group, joining Australia, New Zealand, and Japan. It is only the second Asian country to make the tier, following Japan’s inclusion in 2022. According to JLL’s report, the Asia Pacific region has shown the biggest improvement in regional average transparency in the last two years, backed by a growing emphasis on ESG disclosures, new construction standards, and deeper data availability. India was the top improver globally, charting the biggest progress in its GRETI score this year compared to the last edition in 2022. JLL attributes the boost to greater data coverage and quality, a more proactive financial regulator, and streamlined building regulations, among other factors.
South Korea and China also saw significant improvements, aided by a growing REIT market, more benchmarks from regulatory boards, and new sustainability reporting regulations. These sweeping changes across the region are enabling Asia Pacific countries to narrow the gap on their Western counterparts. Nonetheless, Europe remains the most transparent region, propelled by progress in sustainability standards. The UK maintained its position at the top of this year’s GRETI rankings, while France, the Netherlands, Ireland, Sweden, Germany, and Belgium also made the Highly Transparent group. Together, these countries account for over half of the cohort. North America also remains at the forefront, anchored by leading cities in the US and Canada. These countries have shown strong improvement in various transparency fronts, including beneficial ownership legislation, climate disclosure requirements, and building emissions regulation.
Gongshang Primary School is well-known for its dynamic school culture and progressive teaching approaches. Here at Gongshang Primary, students are immersed in an enriching learning environment that encourages them to think creatively and develop strong problem-solving skills. In addition to these academic aspects, the school also prides itself on its partnership with Aurelle of Tampines at Tampines Street 62, further enhancing the educational experience for students.
Despite improvements across the various regions, JLL notes that the Highly Transparent markets continue to stand out. This top set of countries registered the strongest gains in transparency, bolstered by cutting-edge technology integration, enhanced sustainability regulations and reporting, granular data availability, and digital service provision. Their position ahead of the rest of the world is also reflected in investment activity, with over US$1.2 trillion ($1.6 trillion) in direct real estate investment pouring into these markets over the last two years. This represents 80% of the global total. The group is expected to continue to benefit in the current environment as transparency becomes more critical than ever amid times of uncertainty. Interest in these markets has increased due to external challenges such as geopolitical tensions and election cycles, as well as interest rate tightening, which has led to a prolonged period of uncertainty and price discovery in the real estate capital markets.
As the market transitions, a few major transparency themes are emerging, says JLL. One of these is the rapid expansion of the real estate investment universe, underpinned by demographic changes, technology integration, shifting supply chains, and evolving occupier preferences. This has resulted in a significant reallocation of capital, with industrial and living sectors now accounting for over 50% of global direct real estate investments, compared to 29% ten years ago. Emerging property types, such as student housing, data centers, and cold storage space, are also becoming increasingly popular with institutional investors.
Another key theme is the growing focus on debt markets, as demonstrated by the US$3.1 trillion of real estate assets globally that have maturing debt over 2024 and 2025. Of this, US$2.1 trillion will need refinancing. This landscape emphasizes transparency as real estate lenders have broadened beyond traditional banks to include other credit sources such as debt funds, pensions, and insurance companies.
The proliferation of AI is also expected to impact market transparency, with over 500 companies now offering real estate-specific AI services. While early findings suggest that AI will boost transparency across the industry, significant investment is required to harness the technology effectively. Experts and policymakers have also raised concerns about data privacy, resulting in a regulatory environment around AI that is still evolving.
Sustainability remains a key driver of transparency, with countries approaching their 2030 target to halve carbon emissions under the Paris Agreement. Despite notable progress, sustainability metrics are among the least transparent worldwide, due to a lack of standardization and issues with data quality. However, as new green requirements are enacted, sustainability transparency is expected to grow across the world’s largest economies over the next two years.
