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Israel ranks 34th in Global Real Estate Transparency Index
Jones Lang Lasalle survey gauging proprieties of local realty market says Israel is 'semi-transparent'; country slips six slots from 2010's 28th place
Israel ranked 34th out of 97 countries in the Jones Lang Lasalle Global Transparency Index for 2012.
The survey, published last week classified Israel's realty market as "semi-transparent"; as the county tumbled six places from 28th place in the 2010 survey.
Numbers
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Israel ranked 27th in 2008 and 29th in 2006. The country still, however, topped the 24 Middle East and African countries included in the 2012 survey.
The survey noted that Israel, alongside South Korea and Dubai, is "A market with strong regulation but a paucity of market data," which JLL attributes to "powerful real estate companies that do not adopt international standards."
JLL added that one of factors that that dragged Israel's ranking down was the issue of environmental sustainability, which – while gradually moving to the forefront of real estate investor – has yet to truly catch on in Israel.
Topping the list was the United States, followed by the UK, Australia, the Netherlands and New Zealand.
The Global Transparency Index comprises five sub-categories: Performance measurement, market fundamentals, governance, regulations and laws, and the transaction process.
