The Philippines went up one spot in property consultant Jones Lang LaSalle’s (JLL) biennial Global Real Estate Transparency Index (GRETI), ranking 44th out of 99 countries and 163 city regions around the world.
The last time JLL released its GRETI report in 2018, the Philippines ranked 45th.
The Philippines joined Thailand, Vietnam and Indonesia among the Southeast Asian countries in the “global top 10 improvers” in the GRETI, underscoring Southeast Asia’s improving real estate transparency “led by a greater emphasis on corporate social responsibility and wider adoption of new technologies,” according to JLL.
“Sustainability, including a rise in the number of green-certified buildings, contributed to the Philippines’ improvement. Developer focus on sustainability in the Philippines will be further boosted by the Energy Efficiency and Conservation Act 2019, which includes guidelines on energy conserving design on buildings,” said P. Ryan Isip, JLL Philippines head of capital markets.
“The Philippines has also undertaken an initiative to digitize the land registry, leading to better quality records and easier access,” he added.
Of all Southeast Asian countries, Singapore which ranked 14th “continues to feature prominently as a transparent market,” noted JLL.
The 2020 Index is launched at a time of massive economic and societal disruption where the need for transparent processes, accurate and timely data and high ethical standards are in closer focus.
