The Philippines went up two places to rank 42nd out of 94 countries in the 12th edition of the Global Real Estate Transparency Index (GRETI) by real estate consultancy firm Jones Lang LaSalle (JLL) and LaSalle Investment Management. The biennial index generates the composite score by 1 to 5, where 1 means a market has total real estate transparency. With a score of 2.91 out of 5 in the 2022 edition of GRETI, the Philippines was the fourth least transparent country in the Asia-Pacific region, only ahead of Vietnam (52nd overall),Macau (55th), and Sri Lanka (64th). According to the report, the country’s transparency improved as the Anti-Money Laundering Act was extended to cover real estate.
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The article was originally published in Business World.
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