Vietnam’s real estate transparency index goes up

Vietnam’s real estate transparency index has improved, said experts of Jones Lang Lasalle, one of the world’s leading groups in real estate service and market research, at a press conference announcing the group’s presence in Hanoi.

This group will release its report on the real estate transparency index 2008 next week.

Christopher Fossick, Jones Lang Lasalle’s Southeast Asian Managing Director, said Vietnam’s real estate market has many factors that are less transparent than other countries. However, these indexes have been improved consistently.

The improvement is shown through the amendment of regulations on land, investment formalities, site clearance, etc., which favour foreign investors. Jones Lang Lasalle released 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.

VNA

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