Global report puts Canada in top 5 for fair and open homebuying processes
Canada has been recognized as one of the most transparent real estate markets in the world, according to a new report by JLL.
The country ranked fifth in the JLL Global Real Estate Transparency Index 2024, which assesses openness, integrity, and credibility in real estate markets.
Canada received an overall score of 1.49, with the highest possible score being 1. The report noted that higher transparency fosters trust among buyers and sellers, ensuring fairness in transactions.
The United Kingdom took the top spot on the list with a score of 1.24, followed by France (1.26), the United States (1.34), and Australia (1.37). Canada’s fifth-place ranking tied with the Netherlands, both receiving a score of 1.49.
JLL said the goal of the index is not to dissuade clients from operating in less transparent markets but to highlight the importance of managing transparency risks through local expertise.
The rankings are based on a combination of data from JLL’s global survey across 89 countries and 151 city markets, focusing on areas like market fundamentals, transaction processes, and environmental, social, and governance (ESG) factors.
Canada ranked second in market fundamentals, tying with Australia and just behind the United States. In terms of regulatory and legal transparency, Canada secured fifth place, with the United Kingdom, France, Sweden, and Ireland leading the category.
Canada ranked tenth in the transaction process and tied with the Netherlands again in the sustainability subcategory, coming in sixth.
Since JLL's previous report two years ago, Canada has made legislative advancements that have contributed to its high ranking. These include new rules on the disclosure of beneficial ownership and upcoming regulations on climate-related disclosures.
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Cities like Montreal and Vancouver are set to implement stricter rules on greenhouse gas emissions disclosures, which further support Canada's position in the transparency rankings.
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