Pakistan Improves Its Ranking in Global Real Estate Transparency Index

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Pakistan has grabbed the 75th spot on the biannual Global Real Estate Transparency Index report for the year 2018. The country managed an overall score of 3.99 and was placed in the “low transparency tier” behind Iran.

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Pakistan made significant progress in 2018 as the country jumped from 88th spot in 2016 to 75th in 2018. The United Kingdom was ranked number 1 as the country with the most transparent procedures in the real estate sector, with an overall score of 1.24.

Report

The report comprehensively covers 100 countries and 158 cities incorporating a total of 186 factors. Here are the main categories under which the countries are compared and then ranked:

  • Market Fundamentals
  • Governance of Listed Vehicles
  • Performance Measurement
  • Regulatory & Legal
  • Sustainability
  • Transaction Process

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India is one of the Asian countries that made significant progress on the list. The country sits at 35th spot with a composite score of 2.71.

About the increased transparency in the real estate sector in Pakistan and Saudi Arabia, the report stated,

Saudi Arabia and Pakistan have also seen rising transparency over the past two years, with regulatory reforms and increased data collection and publication by government bodies and international market participants contributing to their progress.

The report further added that the property transactions reached a record high value of $149 billion in 2017 as well.

85% of the countries on the list posted an improvement in the transparency index. Overall, an increase of 2.4% was seen on average transparency score in 2018 as compared to 2016.

Myanmar showed the highest progress globally as it jumped 15 places with its inclusion in the “Low Transparency” group.

Originally Published on ProPakistani.com

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