UK remains at the top of JLL and LaSalle’s Global Real Estate Transparency Index
London, Manchester, Birmingham, Edinburgh and Glasgow named in the world’s top 15 most transparent cities
The Global Real Estate Transparency Index published by real estate adviser JLL and real estate investment manager LaSalle has revealed that the UK remains the world’s most transparent market for real estate. The research cited that the UK market is pushing the boundaries of transparency through technology, a focus on sustainability, anti-money laundering regulations and enhanced tracking of the alternative sectors.
The Global Real Estate Transparency Index also named five UK cities, London, Manchester, Birmingham, Edinburgh and Glasgow in the world’s top 15 most transparent cities.
Sustainability commitments have become the biggest single driver of real estate transparency globally since 2018 according to JLL and LaSalle’s research.
The report also pointed to an elevated awareness of personal and environmental hygiene, health, work-life balance and social relations. JLL and LaSalle cited that building owners and operators will need to adjust to keep workers and building users safe and healthy and that transparency of ‘building health’ will become far more important – in terms of access to metrics that track not only light and noise, but also building ventilation, air filtration, and cleaning.
JLL and LaSalle further noted that investors, businesses and consumers have heightened expectations regarding transparency in real estate markets and empahsises the key role of proptech in driving future transparency. The increased availability of real estate data and growing adoption of proptech is cited as a key driver of transparency.
Jeremy Kelly, director, global research at JLL, said: “In addition to the UK leading as the top performing highly transparent market it is also a leader in proptech adoption and continues to drive higher standards in sustainability. Transparency in all areas of real estate remains a key priority for investors, businesses and consumers and we need to ensure that it continues to improve further and faster to compete with other asset classes and meet heightened expectations about the industry’s role in providing a sustainable, resilient and healthy built environment. With innovation in the use of new technologies now becoming more widespread, coupled with an evolving regulatory landscape, in part due to the COVID-19 pandemic, it will be crucial for the real estate industry to work more collaboratively with governments and civil society to achieve greater transparency.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.