Real estate leads region
Dubai and Abu Dhabi are the most transparent real estate markets in the Middle East - but have a long way to go before they can match global leaders.
That’s the findings of new research by global industry consultant Jones Lang LaSalle, which ranks 97 major markets around the world in its Global Real Estate Transparency Index.
While the two emirates sew up first and second places respectively in the region, Dubai only bags 47th spot globally and Abu Dhabi is further back in 52nd place.
The report’s authors say the region has only achieved “limited progress from a low base” in the two years since they were last ranked.
While the UAE has “reinforced its position as the most transparent real estate market in the region” they conclude there is room for further improvement.
In Dubai, they found, “the quality of market data remains poor”- something which must be addressed if the emirate is to be promoted from the ‘Semi-Transparent’ category it was ranked in this year.
Lebanon showed the biggest improvement in the region, while Egypt was the only market to decline in transparency.