The Jones Lang LaSalle global survey entitled “2012 Global Real Estate Transparency Index” measures transparency in at least 97 real estate markets using 83 factors. The Philippines ranked 35th globally across all factors, and was ranked 7th out of the top 10 markets around the world that have drastically improved from 2010 to 2012. This just shows that investor confidence in the country is in fact improving.
Other countries included in the top 10 list of improvers were Turkey which got the top spot, with Brazil and Mexico lagging closely behind. The Philippines surpassed Vietnam, South Korea, and Thailand in the same category, and is at the same level with Vietnam.
According to JLL Country Manager David Leechiu, increased transparency could mean more investors for the country which can result to more opportunities for the country’s real estate transparency ranking to further improve.
Since more and more businesses are put up in Asia, it is relative that countries such as the Philippines, Indonesia, and Vietnam will exert more efforts in improving transparency.
Also, notable tenants in the Philippines are from the offshoring and outsourcing industry. Other sectors contributing to the growing demand for office space are international finance and insurance firms.