 |
| A birds-eye view of buildings in Seoul on June 24 of this year / Newsis |
By Anna J. Park
Korea is ranked 28th on the Global Real Estate Transparency Index (GRETI) for this year, up two notches from 2020.
The biennial index is a global benchmark of real estate market transparency, based on a combination of quantitative market data and information gathered through a survey of the global business networks of global real restate service firm JLL and global real estate investment management firm LaSalle, across 94 countries and 156 city markets.
The index evaluates each country or territory in six sub-indexes, looking at market fundamentals, regulatory and legal frameworks, transaction processes and listed vehicles.
The U.K. topped this year's list, followed by the U.S., France, Australia and Canada in the top five positions. Japan took the highest rank of 12th place among Asian countries, followed by Singapore and Hong Kong, which took 14th and 16th place, respectively.
Korea was placed as the fourth-highest Asian country on the list. The country is categorized as "Transparent," which is the second out of five levels: Highly Transparent, Transparent, Semi-Transparent, Low Transparent and Opaque.
Korea's ascent of two notches from 30th place to 28th was attributed mainly to improvements made in the country's market fundamentals as well as in data analysis. The country's growth in the real estate investment trust (REIT) market also contributed to the improved figures evaluated by the index.
JLL forecasts that a considerable amount of global money is expected to flow into the Asia-Pacific region's real estate sector this year, to key assets like office and shopping centers, as well as alternative assets like data and logistics centers. The global real estate firm also said that the digital divide among countries will accelerate the differences in the transparency of real estate markets worldwide.
![[INTERVIEW] Director of 'A Model Family' on blending Korean and European-style thrillers](https://img.koreatimes.co.kr/upload/thumbnailV2/da0446f3210348a3a09b2adaedd1f41d.jpg/dims/resize/178/optimize)
