The rate of growth in transparency in the global real estate sector has slowed, finds a new report by JLL and LaSalle.
But Europe is a beacon of best practice it seems, with EU countries comprising six of the top ten places in the report's global league table.
That is according to the new 'Global Real Estate Transparency Index.' It reports France and the UK are diving higher standards in Europe.
Despite more emphasis on corporate social responsibility and increasing use of proptech, transparency improvement is at its slowest since global financial crisis, 12 years ago. Since 2018, ESG commitments have become the biggest single driver of real estate transparency globally since 2018.
Research for the index was gathered early on in the Covid-19 crisis, which is leading to an acceleration in new types of non-standard and high-frequency data – especially relating to health, mobility and space usage – being collected and disseminated in near-real-time.
Jeremy Kelly, director, global research at JLL said: 'As companies demonstrate an unwavering commitment to corporate social responsibility, there is increased voluntary adoption of environmental, social and governance (ESG) measures and greater acknowledgement of the need to create a sustainable 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,' Kelly said.
