In a recent JLL report, real estate market transparency in Thailand improved to a score of 2.76 in 2014, up from 2.94 in 2012 and 3.02 in 2010. The kingdom has also improved its global ranking from 39th in 2012 and 2010 to 36th place in 2014.
The original story published by DDproperty.com is here.
"Despite no change in grading, Thailand has seen continued improvement in its real estate market transparency score. The country’s improved score and higher ranking in 2014 is good news," said Suphin Mechuchep, Managing Director of JLL in Thailand.
But what real factors are behind Thailand’s improvement in real estate market transparency?
"Greater availability of market data contributed to improvement in transparency in Thailand’s real estate market," said Suphin.
"This is in contrast with the past when Thailand suffered from a lack of information about real estate transactions in the market. Major sales and leasing transactions in particular were typically kept confidential by relevant parties, be they owners, investors or occupiers.
“As a result, actual transacted values against which to benchmark were scarce," she explained.
"The growing number of listed real estate developers, investors and property funds counts for a lot in this aspect as they are required by law to be transparent
 |
Dr. Chua Yang Liang, Head of Research South East Asia at JLL, added: "Continuing institutional interest in Southeast Asia would help to drive rising transparency in the regulatory/legal environment as well as the real estate transaction processes".
He cited recent interest by institutional players such as GIC RE, Goldman Sachs and Ascendas in the Philippines, and on-going institutionalisation of the property market in Thailand as examples.
Dr. Chua also expects a young population in Southeast Asia, with higher education and increasing usage of social media, to push for greater real estate transparency going forward.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
Recent stories you may have missed:
MUST READ: Experts say why now is the time to buy Thailand
DO NOT MISS: Work starts on THB50bn waterfront development
Buyers are snapping up Bangkok CBD land
Singapore buyers still keen on Thailand property
Property prices rise across Bangkok
Pattaya: The infrastructure impact
If you have a news story or comment for publication about Thailand property or real estate email: andrew@propertyguru.com.sg