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Vietnam jumps 4 places to become “semi-transparent” real estate market

14:12 | 17/07/2020

Vietnam has become a “semi-transparent” real estate market for the first time and named among top global improvers, alongside regional peers – Thailand, the Philippines and Indonesia in 2020 Global Real Estate Transparency Index (GRETI)

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vietnam jumps 4 places to become semi transparent real estate market
Ho Chi Minh city

Steady advances of the two metropolises Ha Noi and Ho Chi Minh city have helped Vietnam reach the 56th place in this year’s ranking released by market researcher Jones Lang LaSalle (JLL) , jumped 4 places in comparison to 2018 . The country has become a “semi-transparent” real estate market for the first time. It is also named among top global improvers, alongside regional peers – Thailand, the Philippines and Indonesia.

vietnam jumps 4 places to become semi transparent real estate market
Top Transparency Improvers, 2018-2020 Largest improvers in South and Southeast Asia, Western Europe and MENA; Source JLL

Following on from steady advances over the last two surveys, Ho Chi Minh City has made further progress on regulatory enforcement to enter the “Transparent” tier, according to JLL.

Vietnam has made further progress on the regulatory front with government bodies tightening their oversight to ensure rules and regulations are being adhered to in areas such as land-use planning and lending standards. The country’s strong economic prospects have drawn significant interest from both occupiers and investors, and this has led to increased competition and service offerings from property management companies. Following on from steady advances made over the last two surveys, these changes have helped to push Vietnam into the ‘Semi-Transparent’ tier, stated by JLL

The group of countries with high level of transparency accounted for more than 75% of foreign investment in the real estate industry, led by the United Kingdom and the United States. Australia, France and Canada ranked in the top 5 respectively. Japan dropped 3 places compared to 2018, ranked 16th in the 2020 Rankings.

Emerging markets have once again shown the greatest advancement in the index, with six Asia Pacific markets – Mainland China (32nd), Thailand (33rd), India (34th), Indonesia (40th), the Philippines (44th) and Vietnam (56th) – among the top 10 biggest improvers globally.

vietnam jumps 4 places to become semi transparent real estate market
Range of Real Estate Transparency in Asia Pacific, 2020, source: JLL

The 2020 Index is launched at a time of massive economic and societal disruption where the need for transparent processes, accurate and timely data and high ethical standards are in closer focus.

The backdrop of COVID-19 is also ensuring that transparency within Asia Pacific’s real estate legal and regulatory systems is more important than ever to global investors, as they look to deploy approximately 40 billion USD in dry powder capital into the region.

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