 Real estate services firm Jones Lang LaSalle (JLL) raised Vietnam's real estate transparency ranking from "opaque" to "low" in its index, which was issued Monday.
The country ranks 11th in the JLL list of 28 markets that had the largest transparency score change in the past two years since the firm's last index in 2006.
Yet Vietnam's overall ranking is still as low as 77 out of the 86 economies surveyed by JLL for the Real Estate Transparency Index. The index ranks economies based on performance measurements, market fundamentals, listed vehicles, legal and regulatory environment, and transaction processes.
It categorizes the surveyed economies into five groups of high, transparent, semi, low and opaque levels.
Dang Van Quang, senior manager of JLL Vietnam's Strategic Consulting, said the higher index for Vietnam showed the improvement in the government's regulations and bureaucratic practices.
The government had issued regulations to make the market more transparent, of which he emphasized the one on auctioning state-owned properties.
The auctions of several prime properties in Ho Chi Mirth City this year sent a good signal to investors, he said.
He called for the government to further improve regulations and create more channels of market information to enhance its ranking. The lack of transparency would block long-term or high-quality investors, he said.
Canada, Australia, the U.S., New Zealand and the U.K. top the 2008 index.
Source: Thanhnien News |
