Ireland’s property market ranks within the most “highly transparent” markets in the world according to the latest JLL Global Real Estate Transparency Index (GRETI) released today.
The index which is published biennially, measures transparency in 158 metropolitan areas, across 186 unique indicators. This year’s survey saw a 36% increase in the number of indicators and factors which contribute to the overall scoring. New topic areas included regulations and market practice around anti-money laundering stops, beneficial ownership as well as a significant increase in questions around sustainability and the use of property technology.
One of the major distinguishing factors between countries who scored well in this year’s study, was the adoption of technology across the property market. Prop-tech is primed to be a major change to the property market globally. In terms of adoption of new technology advancements across the market, Ireland ranks 8th globally.
Commenting on the report, Research Analyst with JLL Ireland, Niamh Manning said, "In light of recent events, such as the Paradise Papers and other watershed whistleblowing, it is reassuring to see Ireland score so highly in the GRETI market review. Having a recognised, high standards of transparency within the property market, has far reaching positive effects, from boosting investment, advancing industry standards, and improving business efficiencies to contributing to a conscious rise in employee wellbeing and satisfaction and helping the environment."