Spain, among the 20 most transparent real estate markets in the world

PUBLISHED ON

Septiembre 27, 2024

CATEGORY

Real Estate

Spain is one of the ten most transparent real estate markets in Europe and the eighteenth most transparent in the world. This is according to the Global Real Estate Transparency Index (GRETI) 2024, prepared by JLL and La Salle. The country is included in the category of ‘transparent’ markets, the second step of the ranking only behind the highly transparent countries, led by the United Kingdom, France and the United States. Australia, Canada and the Netherlands also rank highly, while the most opaque territories are Iran, Ethiopia and Guatemala.

In terms of the factors underpinning Spain's position - the same as in the previous edition - the transparency of asset sale and purchase processes and the corporate governance of listed real estate companies stand out. In both aspects, Spain improves its ranking with respect to the GRETI 2022 index: in transparency in sales and purchases, Spain moves from ninth place in 2022 to eighth place in 2024; in corporate governance the national market gains two positions and is in sixteenth place compared to eighteenth place in the last report. Another aspect that the report also highlights is the clarity of the performance indices (19th place in this subcategory).

The report also highlights among the main regulatory advances in the field of transparency in Spain, the creation of the Central Register of Beneficial Ownership (RCTIR) which aims to collect and publicise information on beneficial ownership in force for all Spanish legal persons and trusts and similar unincorporated entities or structures operating in Spain.