Greece keeps green investors in the dark, scores poorly on property transparency index
Greece has scored poorly on a real estate transparency scorecard, meaning that there is a lack of information available to investors regarding green and sustainable investments.
Based on data for Global Real Estate Transparency Index, which JLL and LaSalle prepare, Greece scored in position number 37, immediately after Israel and India, out of a total of 94 countries.
The result lands Greece in a category labelled as Semi-Transparent, below Highly Transparent and Transparent, in which most European countries rank.
Greece's rival real estate markets, Spain and Italy, scored considerably better landing in position numbers 18 and 19 respectively.
“This year’s survey reveals a widening gap between the most transparent
countries and the rest. The highly transparent markets are forging ahead on the back of technology adoption, climate action, capital markets diversification and regulatory change,” said the report.
“Meanwhile, many other markets are at best treading water, even regressing, or in some cases, regrettably disappearing completely off the radar,” it added.
The United Kingdom topped the list, followed by the United States, France and Australia.
With a growing emphasis on decarbonisation and energy consumption, the index surveys the availability and quality of performance benchmarks and market data, governance structures, regulatory and legal environments and transaction processes.
The 2022 Transparency Report focuses on three areas that will be highly influential for real estate investment decisions in the decades to come: sustainability, technology and the growth of specialized sectors.