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Home > Diamond News Center > Diamond News > Financial News

Israel Slips on List of Real Estate Transparency

/ Financial News
A survey of countries in the world determined that Israel's real estate market is semi-transparent and has lost ground compared to its position two years ago, the last time a similar survey was conducted, Ynet reported. Of the 97 countries surveyed, Israel dropped six places from 28th place in 2010 to only 34th place in 2012.
Israel's 2012 ranking was not only a drop from the previous 24 months, but from the previous 72. In 2006, Israel received a 29th place ranking and in 2008 it received a 27th place ranking.
Jones Lang Lasalle, who conducted the surveys, attributed Israel's standing to what it called "a paucity of market data" in its real estate market. JLL says this is caused by the fact that local real estate companies "do not adopt international standards". It also said that the Israeli real estate industry trailed behind those of other countries in its environmental consciousness, according to Ynet.
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