Vietnam jumped four places to rank 56th globally, according to the Global Real Estate Transparency Index by JLL and LaSalle Investment Management, amid improving building standards across Asia.
Vietnam jumped four places to rank 56th globally in transparency index (Photo: Courtesy JLL Vietnam)
The firms attributed the jump in rankings to the Government’s commitment to cut green-house gas by 8% by 2030 as well as its goal that Vietnam will reach net-zero carbon emissions by 2050.
In addition to Vietnam, the biennial index found an increasing number of Asia Pacific countries and cities have followed up on previously announced climate commitments by establishing mandatory energy efficiency and emissions standards for buildings, aligning with broader net zero carbon goals. The report also found more widespread adoption of green and healthy building certifications, with leading markets beginning to mandate sustainability reporting from companies and collecting public building-level information on energy efficiency and emissions.
The index confirmed that Asia Pacific’s commercial real estate sector is better positioned to attract increased capital in the coming years due to measurable improvements in market transparency.
Real estate markets across Asia Pacific – driven by gains in regulation, sustainability and access to enhanced data – continue to mature and become more accommodating for investors and developers planning expansion in the region.
The index provides a unique benchmark of market transparency for property investors, developers and corporate tenants. A transparency ranking is assigned based on the availability and quality of performance benchmarks and market data, governance structures, regulatory and legal environments, transaction processes and sustainability markers to help investors and tenants make informed, risk-based decisions.
While markets are changing at different rates, the data reveal an overall uplift in real estate transparency regionally.
“The strides toward greater transparency in Asia Pacific will intensify investor interest and bolster occupier confidence in this region. As a result, we expect to see more capital deployed into those markets that can demonstrate consistent efforts to make accurate data available, enforce legal protections for property ownership, and enhance the regulatory environment to facilitate the transactions,” said Anthony Couse, Chief Executive Officer, Asia Pacific, JLL.
JLL and LaSalle's Global Real Estate Transparency Index is published every two years, and this year’s 12th edition includes 254 individual indicators to assess market transparency across 94 countries and territories and 156 cities globally./.
VNA
