Real Estate Transparency Index: A Global Perspective

The Real Estate Transparency Index is a comprehensive research report compiled by JLL and LaSalle, covering 151 cities in 89 countries and regions worldwide. The 13th edition, 2024 edition, analyzes 256 items in six sub-indices, providing valuable insights into the transparency of each market.

Global Highlights

• Improved Transparency in High-Ranking Countries

  The UK retains its number one position in the “high transparency” category, followed by France and the US. These markets have attracted over 80% of the world’s direct commercial real estate investment, totaling over USD 1.2 trillion, due to their low risk and high transparency.

• Asia-Pacific Region Sees Significant Improvement in Transparency

  India has made the most significant improvement globally, moving into the medium-high transparency category. Singapore has also entered the high transparency category for the first time, thanks to improvements in sustainability and digital services.

• Generative AI Contributes to Transparency, but Raises Concerns

  The rapid advancement of generative AI has enabled unprecedented speed and detailed assessment and analysis. While increasing productivity and transparency, regulatory and compliance risks associated with AI have been pointed out.

• Sustainability Transparency Gains Importance

  The sub-index that improved the most in this survey was “Sustainability,” with Paris, France, Tokyo, Japan, and New York, USA, ranking top three. As major markets require or tighten disclosure of emissions information and climate change risks, sustainability transparency is expected to improve further.

• Investment in Emerging Real Estate Sectors on the Rise

  Investment in industrial and living sectors accounts for 50% of global real estate investment. Emerging sectors like healthcare, refrigerated warehouses, and research facilities are gaining traction, but data on these sectors is limited in markets with lower transparency ratings.

Japan’s Performance

• Maintaining High Transparency

  Japan’s transparency remains “high” at 11th place, showing steady improvement from 16th place in the 2020 edition and 12th place in the 2022 edition.

• Significant Improvements in Sustainability

  Japan has risen from 6th place in the 2022 edition to 2nd place in the 2024 edition, second only to France. Japan has made consistent progress in setting clear net-zero carbon targets, benchmarking building efficiency and emissions, and mandating more robust climate risk reporting.

• Areas for Improvement

  While Japan’s initiatives have been highly evaluated, there are issues unique to Japan in areas like disclosure of detailed real estate transaction data, investment strategy reporting, and governance of listed companies.

About the Real Estate Transparency Index

The Real Estate Transparency Index is a survey report that verifies and quantifies quantitative data and questionnaire surveys collected by JLL and LaSalle. The survey has been carried out since 1999 and is published every two years, serving as an international benchmark for real estate investors, developers, business companies, governments, and industry associations.

About JLL

JLL is a comprehensive real estate services company that provides a full range of real estate related services globally. A Fortune 500 company, JLL operates in 80 countries, employs approximately 110,000 people, and has revenues of $20.8 billion in 2023. JLL’s mission is to shape the future of real estate for a better world.