Global Real Estate Market Experts JLL’s 2024 Real Estate Transparency Index shows that India has moved into the transparent zone for the first time, ranking 31st out of 89 countries. India’s tier 1 market particularly Mumbai, Delhi and Bangalore had a composite score of 2.44. The United Kingdom and France came 1st and 2nd with composite scores of 1.24 and 1.26 respectively. The report was released on August 27.

This is the 13th edition of the transparency index which measures 256 individual indicators and asses 89 countries across 115 countries globally. The index has become a reliable and widely used benchmark for assessing transparency, cross-border investors, lenders, developers and occupiers of real estate. It covers a wide range of topics from investment performance benchmarks, market data transaction processes and sustainability metrics.

U.S.A, Canada, Australia and France are among the top global improvers with a composite rating of 1.34, 1.49, 1.47 and 1,26 respectively. Singapore has also entered the ‘Highly Transparent’ group for the first time, boosted by a focus on sustainability and digital services. These top countries attracted US$ 1.2 trillion in direct commercial real estate investment in the last two years, more than 80 per cent of the global total.

India is the top global improver with greater data coverage and improved quality across both core and niche property markets ranging from industrial to data centres. There had been an increase in institutionalization. India’s real estate market has scored high on two parameters- transaction process and market fundamentals.

In the transaction process, India breaks into the top 10 owing to the greater asses to asset and portfolio level information and rising institutional participation.

In market fundamentals, India ranked 12th due to reduced information asymmetry with multiple data providers and tech platforms.

Greater attention is needed to clean up land records, better and unified performance indicators and data sources, as well as an expansion in the size and scope of listed vehicles, especially in the nascent real estate investment trust (REIT) space, stated the JLL report.