Transparency in the real estate sector is more crucial than ever in times of uncertainty. Nations approaching the "most transparent" category continue to progress due to advancements in technology and AI investments, improved data availability, and clear sustainable commitments. This was highlighted in the Global Real Estate Transparency Index (GRETI) released biennially by JLL and LaSalle (JLL). The index provides market transparency insights to guide global property investment, development, and occupancy. According to JLL's statement on Wednesday (18/9/2024), Europe remains the most transparent region, with commercial property markets showing significant progress.
In Asia, countries have marked an average increase in transparency since 2022, with Singapore leading the way. Globally, India has shown the highest transparency improvement, with enhanced data coverage and quality across sectors. Other countries like Japan, Australia, cities in China, South Korea, UAE, and Saudi Arabia also made advancements in 2024. Indonesia ranks 40th with a semi-transparent index score of 2.81, outperforming the Philippines and Vietnam in Southeast Asia but trailing behind Thailand and Malaysia, which fall under the Transparent category. Despite economic uncertainties, Indonesia's property sector continued to grow in 2023 and is projected to sustain this growth into 2024, aligning with Indonesia's economic outlook. Investment in the property sector in the first half of 2024 reached IDR 29.4 trillion, a 6% increase from the same period last year. This growth indicates strong investor confidence in Indonesia's property market.
