Thailand is ranked 34th on property consultancy JLL’s Global Real Estate Transparency Index in 2018, an improvement from 38th position in 2016.

Thailand is ranked the third-most transparent real estate market in the subregion, followed by Indonesia, the Philippines, Vietnam and Myanmar, ranked globally 42nd, 48th, 61st and 73rd, respectively.

The 2018 index covered 100 countries and 158 city markets, and the number of individual factors covered has increased by 36% to 186 factors. Improvements in Thailand

Improvements in Thailand “Transparency across Thailand’s real estate markets has continuously improved over the last decade thanks largely to increased availability of and access to market data,” said Suphin Mechuchep, managing director of JLL.

“While the growth of listed companies and real estate investment vehicles has contributed a lot to improving financial disclosures and greater regulatory enforcement, the planned introduction of a new property tax system and steps to digitise the land registry will underpin the country’s improvement in real estate transparency further.

Asia-Pacific’s mature economies such as Singapore, Hong Kong and Japan, have a significant opportunity to advance real estate transparency through proptech adoption. These leading investment destinations are on the cusp of the ranking’s highly transparent tier, and are poised to join the top group, which includes countries such as Australia, New Zealand, the US, and the UK.

Improvements in transparency in some Asian countries have been accompanied by record-breaking commercial real estate investment volumes. In 2017, real estate transactions in the Asia-Pacific region reached a record UScopy49 billion (4.94 trillion baht).

Source: Bangkok Post