Press release from Business Wire India
Source: Jones Lang LaSalle Meghraj
Tuesday, June 29, 2010 12:20 PM IST (06:50 AM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Business services, Construction, Media & entertainment, Real estate
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India Reflects Consistent Improvement in the World's Global Transparency Ratings
Jones Lang LaSalle's Global Transparency Index Shows that India has Surged Perceptibly ahead in its Real Estate Transparency Ranking. Tier 1 cities are Currently Ranked # 41 Among Nations Surveyed
Mumbai, Maharashtra, India, Tuesday, June 29, 2010 -- (Business Wire India) -- The 2010 Global Real Estate Transparency Index just released by Jones Lang LaSalle and LaSalle Investment Management revealed a worldwide slowdown in the progress of real estate transparency over the past two years. The survey suggests that the recent turmoil in global financial, economic and real estate markets has impacted on market behaviour, with real estate players focusing on survival rather than market advancement. The average improvement in real estate transparency across the 81 markets covered by the survey has halved in 2008-2010, when compared to the 2006-2008 and 2004-2006 period.
Abhishek Kiran Gupta, Head - Research & REIS, Jones Lang LaSalle Meghraj, states, "The latest transparency index reveals that India has yet again surged ahead in its real estate transparency ranking. The country's Tier 1 cities are currently ranked # 41 among nations surveyed, while India's tertiary cities have graduated from the Low Transparency tier to Semi-Transparent. Further, Indian cities in each tier are now considered slightly more transparent than their Chinese counterparts."
To view the High Transparency Markets, please click on the link given below:
High Transparency Markets
9 out of the 15 fastest improvers are in Europe, and the remaining 6 are in Asia Pacific - to be more precise, 3 from India and 3 from China. Countries with lower investor interest levels - such as Turkey, Poland, Greece and others - have actually improved the most since 2008. On the heels of the global crisis, real estate transparency levels in one-third of the countries are static or declining.
"India's real estate market is rapidly shedding the elements that were part of a less mature system," says Anuj Puri, Chairman & Country Head, Jones Lang LaSalle Meghraj. "The increasing transparency levels are a reliable indicator that the country is adapting fast to the ways in which real estate business is done in more developed countries. The result is that Indian real estate is gaining swiftly in international credibility, and this in turn is boosting investor confidence levels."
To view the Largest Improvement 2008-2010, please click on the link given below:
Largest Improvement 2008-2010
Notes
The survey identifies the fastest moving markets over the past two years, and presents the top-ranking markets in each of the five transparency categories - Performance Measurement, Market Fundamentals, Listed Vehicles, Legal and Regulatory Environment and Transaction Process. Experts from the disciplines of accounting, finance and law have also been consulted, especially in emerging markets, in order to supplement Jones Lang LaSalle's real estate knowledge.
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CONTACT DETAILS
Abhishek Kiran Gupta, Jones Lang LaSalle Meghraj, +91 (22) 61416512, Abhishekkiran.gupta@jllm.co.in
Arun Chitnis, Jones Lang LaSalle Meghraj, +65 6494 3641, Arun.chitnis@jllm.co.in
KEYWORDS
CONSUMER, CONSULTANCY SERVICES, BUSINESS SERVICES, CONSTRUCTION, MEDIA, REAL ESTATE
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