Vietnam Sees Improvement in Realty Transparency Index
Vietnam has seen improvement of real estate transparency index, up one level from the bottom group, showing a sign of the local realty market, a report by Jones Lang Lasalle, one of the world&rsquos leading groups in real estate service and market research showed.
The report on the real estate transparency index 2008 was released at a recent press conference announcing the group&rsquos presence in Hanoi.
&ldquoVietnam&rsquos property transparency index has climbed one level from the bottom group to the low one, showing an active sign for the local realty market,&rdquo said Jones Lang Lasalle&rsquos Southeast Asian Managing Director, Christopher Fossick.
The improvement is indicated through the amment of regulations on land, investment formalities, site clearance, etc., the report said.
It also added that India, China and Vietnam have made the most remarkable progresses in the transparency.
However, Vietnam&rsquos real estate market has many factors that are less transparent than other countries such as Thailand, Singapore, Malaysia and the Philippines.
Jones Lang Lasalle conducted the real estate transparency index for the first time in 1999 after surveys of 56 markets in the world.
The report is released every two years and it is a way for real estate investors to determine opportunities and strategies on a global scale. The ranking has five levels: very transparent, transparent, average, low and grey area. (Investment, Vietnam Net)
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