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Wednesday, July 7, 2010

M’sia real estate market transparency slips 2 places

PETALING JAYA: Jones Lang LaSalle’s Global Real Estate Transparency Index 2010 report, which quantifies real estate market transparency, shows Malaysia slipping two places from 23rd in 2008 to 25th out of 81 countries,

Jones Lang Wootton (JLW) said in a statement that Malaysia remained a “transparent” market and the third most transparent country in South-East Asia after Singapore and Hong Kong, which were ranked 16th and 18th in the world respectively.

JLW senior vice-president and head of research David Jarnell said “the index provides a good guide for industry players and the Government who are keen to attract more foreign direct investment to Malaysia and always working towards improving the nation’s transparency.”

“Malaysia’s stable economic and political history and forecast relatively strong gross domectic product growth will underpin the country’s attraction as a destination for real estate investors. Furthermore, Malaysia’s good levels of transparency will help the market gain momentum following the global financial crisis in 2008,” he said.

The Asia-Pacific region showed general improvement in real estate market transparency, the statement said.

Australia is the most transparent country in the world, followed by Canada (2nd), the United Kingdom (3rd) and New Zealand and Sweden (joint 4th).

By The Star

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