South Korea’s Real Estate Transparency Index Reaches New Heights

South Korea has ​achieved its highest ever ranking in the Global Real Estate⁢ Transparency Index (GRETI), securing 27th⁣ place. This significant‌ improvement is ‌attributed to the enhanced data availability and quality in the office ⁣and⁢ logistics sectors, as well as the growth and institutionalization of the ‌REIT market.

The ​introduction of the Korea Real Estate Institute benchmark ​and corporate procurement also played a crucial role in elevating‍ the‌ country’s index. The GRETI report, published every two years by‍ JLL, ⁣a global⁢ comprehensive real estate⁤ service company, evaluated 89 countries and 151 cities worldwide.

This⁢ year’s rankings saw the UK take ‌the ⁢top spot, followed ​closely by France, the US, Australia, and Canada. In ⁢Asia, Japan and Singapore were classified as ‘highly transparent’, ranking 11th and 13th respectively.

Lee Han-gook, head of JLL’s leasing division, ​noted, “Korea has made remarkable progress in transparency, with notable improvements in the availability and quality ⁤of real estate data and the level of information in the mature REIT market. This has ⁣significantly contributed to global investors’ trust‍ in ⁢the Korean market.”

The Global Real Estate Transparency Index, first published by JLL and LaSalle in 1999, serves as a valuable guide for real estate investors, developers, and companies to assess the risks associated with investment and market entry in overseas markets.‍ It also provides insights for governments and industry ⁣organizations to enhance transparency​ in their respective countries.