2020年全球房地产透明度指数（英文版）_85页_4mb

Global Real Estate Transparency Index, 2020 Summary

Core Content

The Global Real Estate Transparency Index (GRETI), developed by JLL and LaSalle, is a benchmark for assessing real estate transparency across 99 countries and 163 city regions. The 2020 edition reflects global progress toward transparency, sustainability, and resilience in real estate markets, while highlighting the challenges and opportunities arising from the impact of the COVID-19 pandemic.

Main Points

1. Global Real Estate Transparency Landscape

• Real estate transparency is improving globally, but the pace is slower than expected.
• Highly Transparent markets include the UK, the U.S., and Australia, which maintain the top positions.
• Ireland, France, Sweden, and Germany show notable improvements in 2020.
• Mainland China's leading cities, Shanghai and Beijing, have entered the Transparent tier for the first time.
• Abu Dhabi is the top global improver, driven by sustainability initiatives.
• Costa Rica and Vietnam also show significant progress, with Vietnam entering the Semi-Transparent tier.

2. Regional Trends

• Americas: Gradual improvement, but progress stalls in major Latin American markets.
• Asia Pacific: Strongest improvements, especially in India, Thailand, Vietnam, and Indonesia.
• Europe: Mature markets lead, while Central and Eastern Europe (CEE) struggles to maintain gains.
• Middle East & North Africa (MENA): UAE continues to advance, while other regions lag.
• Sub-Saharan Africa: Uneven progress, with some markets slipping back.
• Emerging Markets: Show potential for improvement, but face challenges in corporate governance and regulatory enforcement.

3. Drivers of Transparency Improvement

• Sustainability: A major driver, with green building certification, net zero carbon frameworks, and resilience codes being key areas of focus.
• Proptech Adoption: Emerging markets like India, South Africa, Brazil, and China are showing significant proptech adoption, which is expected to further boost transparency.
• Health and Wellness: The pandemic has shifted focus to health and wellness certifications such as the WELL Building Standard and Fitwel, with India, Singapore, and Australia developing their own systems.
• Legal and Regulatory Frameworks: Improvements in anti-money laundering (AML) and corporate governance are playing a vital role in transparency.

Key Viewpoints

1. Sustainability and Transparency

• Sustainability is now a core component of transparency, with ESG considerations becoming mainstream.
• Green building certification systems and energy efficiency standards are widespread in higher-performing countries.
• France and Australia lead in sustainability transparency, with new initiatives such as water efficiency standards and net zero carbon frameworks.

2. Technology and Transparency

• Proptech is transforming data availability and market processes, with smart buildings, digital twins, and blockchain being key innovations.
• Highly Transparent markets such as the UK, U.S., and Australia have the highest levels of proptech adoption.
• Emerging markets are also adopting proptech, showing potential for rapid progress.

3. Alternatives and Infrastructure

• Alternatives sectors such as self-storage, data centers, and life sciences are seeing increased transparency due to institutional investment and market data availability.
• Infrastructure development is being supported by greater transparency, with government open-data initiatives and regulatory reforms playing a crucial role.

What’s Next for Real Estate Transparency?

• The pandemic has accelerated digitization and innovation, with a greater emphasis on real-time data for health, mobility, and space usage.
• Regulatory changes are being introduced quickly, especially around social distancing, virus testing, and contact tracing.
• Government engagement with proptech is increasing, with initiatives like the UK's Digital Street program and blockchain pilots in Dubai and Sweden.
• The real estate industry is under pressure to transform to a net zero carbon and resilient future, with mandatory sustainability standards likely to become more prominent.
• Health and wellness will become a central focus, with greater demand for transparency in building ventilation, air filtration, and cleaning.

Key Highlights

• Ireland introduced the Central Register of Beneficial Ownership.
• Belgium launched an online land administration platform.
• Portugal approved new legislation for REITs.
• Morocco completed its REIT regulatory framework.
• Ivory Coast improved building quality control and land registry processes.
• Germany reformed its Money Laundering Act in 2020.
• Dubai launched a transaction-based price index in 2019.
• Abu Dhabi introduced Zero Carbon and Zero Energy building certifications.
• India launched its first REIT in 2019 and introduced the IGBC Health and Well-being Rating.

Conclusion

The GRETI 2020 underscores the growing importance of transparency in real estate markets, especially in the context of climate change, digital transformation, and the pandemic. While progress is being made, it is not fast enough to meet the rising expectations of investors, governments, and civil society. The future of real estate transparency will depend on technological innovation, regulatory evolution, and a commitment to sustainability and resilience.