Transparency across Thailand’s real estate markets has continuously improved over the last decade owing to increased access and availability of market data, improved enforcement of planning and land use regulations and the maturation of domestic investors and investment platforms, according to a survey.

In the newly released biannual Global Real Estate Transparency Index 2016 by property consultancy firm JLL, Thailand ranks 38th out of 109 markets covered. 

Thailand’s real estate transparency score was 2.65 in 2016, a marked improvement from 3.40 recorded in the 2006 edition of the Index. The scores in the Index range between one and five, with one representing the highest level of transparency and five being the least transparent. (continues below)

JLL’s Global Real Estate Transparency Index measures transparency by looking at factors including data availability, governance, transaction processes, and the regulatory and legal environment.

Suphin Mechuchep, managing director of JLL, said continued improvement in real estate transparency should help increase the country’s overall competitiveness.

She said higher transparency levels in other markets correlated directly to investment volumes and translated to lower risk exposure to owners, investors and occupiers when making decisions around real estate investment, sales, acquisitions and leasing.

Compared to the other six Asean real estate markets covered in this year’s edition, Thailand ranks 3rd, after Singapore and Malaysia.