Beirut ranks 139th globally, 10th among Arab cities in transparency of real estate sector

Economic Research | Lebanon This Week | Lebanon This Week 559 | Beirut ranks 139th globally, 10th among Arab cities in transparency of real estate sector | Lebanon | Byblos Bank

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Lebanon This Week 559

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Beirut ranks 139th globally, 10th among Arab cities in transparency of real estate sector

Jones Lang LaSalle's Global Real Estate Transparency Index for 2018 ranked Beirut in 139th place among 158 cities worldwide and in 10th place among 15 Arab cities included in the survey. 

The index measures national real estate transparency in cities across the globe and is used to compare transparency conditions across markets. It highlights the important differences in transactions processes, property rights, and the regulatory and legal environment around the world. A city or market with a perfect 1.00 score is considered to have a high level of transparency, while a score of 5.00 represents the lowest transparency level. The survey then assigns cities and markets to one of five transparency levels that are "Highly Transparent", "Transparent", "Semi-Transparent", "Low Transparency" and "Opaque".

Globally, Beirut's real estate market is more transparent than markets in Muscat, Tunis and Kampala, and is less transparent than markets in Kigali in Rwanda, Quito in Ecuador and Panama City. Beirut received a score of 4.18 points in the 2018 survey, and lagged the simple global average of 2.7 points, and the Arab average of 3.8 points. Further, Beirut's real estate market came in the "Opaque" category in the 2018 survey, along with 21 other cities in the world that include Luanda, Abidjan and Caracas. Overall, four Arab cities came in the "Semi-Transparent" category in 2018, five Arab cities have "Low Transparency" and six cities came in the "Opaque" category in 2018.   
 
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