Global Real Estate Transparency Index 2024 : Transparency and Opportunities in a Changing World
The 2024 Global Real Estate Transparency Index (IGTI), published by JLL and LaSalle, marks a critical step for the global real estate sector. For 25 years, this index has become an indispensable tool for investors, lenders, and companies occupying real estate in more than 89 countries. By providing a detailed overview of real estate market transparency, it helps industry stakeholders make informed decisions in an ever-changing environment.
A Context of Major Transformations
The year 2024 is characterized by profound changes in the real estate sector, influenced by socio-economic, technological, climatic, and geopolitical factors. The rapid global rise in interest rates has created prolonged uncertainty in markets, while the growing adoption of artificial intelligence (AI) is revolutionizing the global economy. At the same time, the pressure for decarbonization and climate resilience is becoming increasingly urgent, with new regulations being implemented in several jurisdictions.
These changes accelerate the need to improve transparency in the real estate sector, allowing investors, lenders, and companies to better understand market dynamics. Countries with the highest levels of transparency, such as the United Kingdom, the United States, France, and Australia, have taken the lead by adopting advanced technologies and strict sustainability standards. As a result, these countries attract the majority of global real estate investments, representing over 80% of direct investments in the last two years, totaling more than $1.2 trillion.
Real Estate Transparency in Morocco : Progress Still Needed
In the 2024 ranking, Morocco is placed 59th globally, with a composite score of 3.55, positioning it among countries with low transparency. While Morocco has made progress in certain areas, particularly in digitizing processes and data access, there is still room for improvement to catch up with more developed markets.
The main challenges Morocco faces include a lack of transparency in real estate transactions, sustainability standards, and data availability. Strengthening efforts in property registration and transaction regulation is essential to attracting more foreign investments. Additionally, transparency regarding transaction pricing and the quality of rental market data are areas where Morocco needs further progress to improve its real estate market competitiveness.
The Importance of Transparency in the Global Real Estate Sector
The most transparent countries perform the best and continue to widen the gap with other markets. In 2024, nations like the United Kingdom, the United States, Canada, and France, which are among the top improvers in transparency rankings, benefit from cutting-edge technology integration and strict sustainability and reporting regulations. These markets are also the most resilient to global economic changes and attract a significant share of international investments.
Other regions, such as the Asia-Pacific, are also making significant progress. Countries like South Korea and China show notable improvements, particularly with the adoption of new energy performance standards for buildings and the implementation of unified land registration systems. These efforts help attract investors and meet new sustainability requirements.
Challenges and Opportunities for Morocco
Although Morocco is making progress, it still needs to improve its regulatory framework to attract more international investors. Establishing clearer regulations on transaction transparency and environmental standards is crucial for its development. Cooperation between stakeholders and the adoption of new technologies, such as AI, can play a key role in accelerating these reforms.
Conclusion
Real estate transparency remains an essential factor for ensuring stability and competitiveness in global markets. For Morocco, continuous efforts in digitization, data access, and regulation will strengthen investor confidence and solidify its place on the global real estate stage.
Source: JLL and LaSalle, Global Real Estate Transparency Index 2024, August 2024.
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