A newly released biannual Global Real Estate Transparency Index (GRETI) 2016 by property consultancy firm Jones Lang LaSalle (JLL), Nigeria ranks 83rd out of 109 markets covered.Nigeria’s real estate transparency score was 3.8 in 2016, a marked improvement in transparency. The scores in the Index range between one and five, with one representing the highest level of transparency and five being the least transparent.

The index reveals, which countries provide the most favourable operating environments for investors, developers and corporate occupiers. Covering 109 markets worldwide, it quantifies transparency based on 139 variables relating to transaction processes, regulatory & legal frameworks, and corporate governance. Higher real estate transparency is associated with stronger investor and corporate real estate activity.

JLL’s 2016 index reveals that real estate transparency has continued to improve steadily at a sub-national, national and international level. Globally, transparency scores have advanced by an average of 2.4per cent (2014-2016), matching broadly the improvements made between 2010-2012 (at 2.9per cent) and 2012-2014 (at 3.4per cent). Two-thirds of markets have shown progress over the past two years.

The Anglosphere countries continue to dominate the upper echelons of the transparency hierarchy – accounting for six of the world’s ten ‘Highly Transparent’ markets. The United Kingdom, Australia, Canada and the United States hold the top positions.

Technology is also allowing some emerging markets to leapfrog the normal transparency evolution. Examples include the digitisation of land registries in Kenya and Ecuador, while Ghana is reportedly trialing a system to record title deeds with blockchain technology.

With growing interest in Sub-Saharan Africa (SSA) from corporates and international real estate investors, GRETI 2016 has further extended its footprint across the region to provide coverage of 15 countries, with Rwanda, Tanzania and Ivory Coast joining the 12 countries surveyed in GRETI 2014 (which itself was up from eight SSA countries in GRETI 2012).

GRETI 2016 reveals that SSA has continued to make advances in real estate transparency over the last two years, although progress has been more mixed than in 2014, when SSA registered the largest improvement among the global regions.

Out of the 12 markets from the region included in the 2014 Index, six (Nigeria, Botswana, Zambia, Ethiopia, Angola and Ghana) have recorded reasonable progress in transparency. Advances in the ‘market fundamentals’, ‘performance measurement’ and ‘governance of listed vehicles’ sub-indices have supported the overall regional improvement, as greater involvement by international real estate consultancies and local data providers elevates the level of access to information about real estate markets.

Despite these advances, the region has crucially also seen a slight deterioration in the sub-indices scores for the ‘regulatory and legal environment’ and ‘transaction process’ sub-indices, as development in improving the legislative and operating environment appears to have slowed in several markets, with two countries – South Africa and Mozambique – registering a noteworthy decline in overall score.

While tangible improvements in transparency are being made, SSA is still some distance from competing equally with its regional counterparts and sizeable efforts will be needed to close the gap with other global regions.



Read More : http://9japroperty.com.ng/nigeria-ranked-83rd-in-global-real-estate-transparency-index/

Well in reality, our athletes are starving in Brazil and aisha buhari is crusing around with a N40m hermes bag, while the dollar is $1 =N400

Change is really in circulation

I concur 100 Percent on this.

aw e take reduce the exchange rate wey be 1$ to 400 naira?

lielbree:
Well in reality, our athletes are starving in Brazil and aisha buhari is crusing around with a N40m hermes bag, while the dollar is $1 =N400

Una go wail tire!

ADAMUdaCOWBOY:

Una go wail tire!

Whatever.. I'm just stating the reality on ground.

And what do you expect?

Whatever happens to position 1 to 10.


Must we always be 80 something?

lielbree:
Well in reality, our athletes are starving in Brazil and aisha buhari is crusing around with a N40m hermes bag, while the dollar is $1 =N400

Go and sell ugu and stop disturbing us here jor

.

Good development

AntiIPOOP:

Go and sell ugu and stop disturbing us here jor

That could actually be a great idea. Cos here in Houston we only have spinach.

lielbree:

That could actually be a great idea. Cos here in Houston we only have spinach.

Lol aba boy claiming that he's in Texas

......

Naija no day carry last

lielbree:
Well in reality, our athletes are starving in Brazil and aisha buhari is crusing around with a N40m hermes bag, while the dollar is $1 =N400

This shows you have no idea of this rating. Imagine. Some Nigerian youths just have no idea about their immediate environment

Smh

aspirebig:
Whatever happens to position 1 to 10.


Must we always be 80 something?

80 something cos of what? Do you have an idea of what the article is saying?

May be some of us in the real estate sector needs to start educating Nigerians about the Real market

This story too long abeg
Make una short am

davodguy:


This shows you have no idea of this rating. Imagine. Some Nigerian youths just have no idea about their immediate environment

Smh

Did I mention anything about the rating?
Are my statements not actual facts?

lielbree:

Did I mention anything about the rating?
Are my statements not actual facts?

What facts? The topic says Nigeria Ranked 83rd In Global Real Estate Transparency Index)

On the same topic in the property section, you're posting about sports? Why na?

The matter at hand is very serious and i'm waiting for intellectually armed guys to discuss this subject with. I'm a stake holder on the subject

lielbree:

That could actually be a great idea. Cos here in Houston we only have spinach.

who this one dey Santa,,?

.

davodguy:


80 something cos of what? Do you have an idea of what the article is saying?

May be some of us in the real estate sector needs to start educating Nigerians about the Real market

Please educate us.

aspirebig:



Please educate us.

Great,

The rating is based on couple of factors in the real estate sector.

The major challenge we have is improper record.

Eg, If i rent a house and paid a rent, there should be a place where that transaction is recorded. Same applies to property sales and acquisition.

But we have lots of issues here. In order not to pay tax, we lie. no Transparency. A house sold for 45m, the buyer would claim he bought it for 35m or in some cases claim its 55m.

In other developed countries, all transactions are well documented and can be refereed to, for comparison

The issues plenty, i only spoke about Just one aspect.

davodguy:


Great,

The rating is based on couple of factors in the real estate sector.

The major challenge we have is improper record.

Eg, If i rent a house and paid a rent, there should be a place where that transaction is recorded. Same applies to property sales and acquisition.

But we have lots of issues here. In order not to pay tax, we lie. no Transparency. A house sold for 45m, the buyer would claim he bought it for 35m or in some cases claim its 55m.

In other developed countries, all transactions are well documented and can be refereed to, for comparison

The issues plenty, i only spoke about Just one aspect.

Ok, thank you. Throw more light when it convenient for you