SINGAPORE, 28 June 2018 – Asia Pacific’s mature economies such as Singapore, Hong Kong and Japan, have a significant opportunity to advance real estate transparency through proptech adoption. These leading investment destinations are on the cusp of the ‘Highly Transparent’ tier, according to JLL’s Global Real Estate Transparency Index (GRETI) 2018, and are poised to join the top group, which includes countries such as Australia, New Zealand, the U.S. and the UK.
“The proptech sector is growing fast, especially in Asia, though adoption is still relatively low compared to North America and Europe,” says Jeremy Kelly, Director, Global Research, JLL. “We believe the Singapore government could play a key role in promoting proptech adoption through open-data initiatives and the pioneering of blockchain technology.”
“The potential benefits of proptech are certainly not limited to transparent markets,” he adds. “It could also help improve transparency in semi-transparent markets like China, which has a vibrant proptech sector, and where traditional data sources are lacking.”
Another key area of potential improvement for both Singapore and Hong Kong is in sustainability transparency. Strengthening energy efficiency requirements, carbon reporting and stricter energy consumption disclosure will help them make the step up; and in this regard, they could emulate Japan, which has become a global leader in sustainability transparency.
OTHER NEWS ON THE AUSCHAM WEBSITE
In the toolbar of this website, click on “NEWS” for the drop down menu which includes: