Transparency is a key factor in global real estate investment growth: JLL study finds transaction volumes rose 64% in highly transparent markets

JLL’s 2026 transparency index links rapid digitization and reforms to where global real estate capital concentrates and grows fastest.

Rhea-AI Summary

JLL (JLL) released the 14th Global Real Estate Transparency Index, showing that two-thirds of markets increased transparency over the past two years, with highly transparent markets recording a 64% rise in transaction volumes and attracting $1.4 trillion of capital.

These thirteen highly transparent markets now account for 56% of income-producing real estate and over 80% of global direct investment. Asia-Pacific and MENA drive most improvement, with India, Vietnam, South Korea, Australia and Thailand advancing through digitization, stronger governance and legal reforms; India and Vietnam reached all-time-high direct transaction volumes, totaling $12 billion over two years. Alternative sectors such as data centers, manufacturing and infrastructure now represent 20% of global direct volumes, while over 90% of occupiers and investors use AI tools, underscoring the role of digital infrastructure and energy data in transparency gains.

Market Context

JLL's $346.97 pre-headline close and 1.41% gain placed the study against a positive starting positio...

Analysis

JLL's $346.97 pre-headline close and 1.41% gain placed the study against a positive starting position; CSGP and CIGI also rose, while BEKE fell, indicating mixed but mostly upward peer context.

Key Figures

Capital attracted: $1.4 trillion Transaction volume growth: 64% APAC transaction volumes: $12 billion +4 more

Capital attracted

$1.4 trillion

Highly transparent markets over the past two years

Transaction volume growth

64%

Highly Transparent markets over the past two years

APAC transaction volumes

$12 billion

India and Vietnam combined over the past two years

AI tool adoption

Over 90%

Occupiers and investors globally

Global income-producing real estate share

56%

Thirteen Highly Transparent markets

Global direct investment share

More than 80%

Thirteen Highly Transparent markets

Alternative sectors transaction share

20%

Global direct transaction volumes

Historical Context

1 past event · Latest: Aug 25

1 event

1. Aug 25

   Market liquidity report

   24h Move

   +1.4%

   Credit liquidity supported more competitive global commercial real estate transactions.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

reit, price discovery

2 terms

reit financial

"enhanced market data availability and expanding REIT market"

A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

price discovery financial

"Transparency provides the price discovery and risk mitigation"

Price discovery is the process by which buyers and sellers interacting in a market establish the current fair value of a security, like an ongoing auction where bids and offers meet to produce a transaction price. It matters to investors because good price discovery provides a reliable signal of demand and risk, helping determine trade prices, gauge market sentiment, and reveal when prices may be skewed by low liquidity or temporary shocks.

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JLL's 2026 Global Real Estate Transparency Index finds markets such as India, Vietnam and South Korea are driving transparency improvements through digitization and government reforms

Key Takeaways

• Transparency drives investment growth: Highly transparent markets see fastest growth in investment volumes globally over the past two years attracting $1.4 trillion of real estate capital as they benefit from scale, technology and allocations to growing sectors.
• Countries in APAC and MENA lead global transparency improvement: Asia-Pacific accounts for half of the top 10 global improvers, led by India and Vietnam with direct transaction volumes reaching all-time highs in these two markets – attracting $12 billion combined over the past two years, while other MENA markets also showed significant improvement through economic reforms. 
• Alternative sectors, debt markets, digitization and energy are the fastest-moving transparency frontiers: Gains are being boosted by improvements in alternative sectors, credit markets and energy performance tracking, with digitization contributing to progress as over 90% of occupiers and investors now use AI tools.

CHICAGO, Sept. 14, 2026 /PRNewswire/ -- JLL (NYSE: JLL) today released the 14th edition of its Global Real Estate Transparency Index (GRETI), revealing two-thirds of global markets increased transparency over the past two years. While established markets continue to capture the majority of global capital, countries in APAC and MENA have emerged as primary engines of global transparency gains due to rapid digitization and proactive government reforms.

As market conditions become increasingly segmented, commercial real estate transparency is increasingly key to global liquidity and capital allocation. Transaction volumes in the "Highly Transparent" group have risen by 64% over the past two years, outpacing the rest of the world by 20 percentage points. Because investors require scale, early price discovery and reliable data to mitigate risk, these thirteen markets now represent 56% of total income-producing real estate worldwide and more than 80% of global direct investment.

"Transparency is no longer just a benchmark for market maturity: it's a prerequisite for global capital deployment," said Richard Bloxam, CEO of Capital Markets at JLL. "In a period of uncertainty, investors are prioritizing markets with strong digital infrastructure, robust data disclosure and regulatory clarity. The reforms underway across a number of APAC and MENA markets will help improve operating conditions, narrow the transparency gap with established global hubs and unlock cross-border investment."

Five countries in Asia-Pacific generated the strongest transparency gains in this year's survey, accounting for half of the top 10 improvers worldwide. India led the upward trajectory through the expansion of its digital infrastructure, enhanced market data availability and expanding REIT market. Vietnam, South Korea, Australia, already one of the world's most transparent countries, and Thailand also made major strides by strengthening corporate governance standards, refining legal enforcement and expanding disclosure around alternative property sectors. As a result, cross-border investment into Asia-Pacific has rebounded sharply, driving direct transaction volumes in key markets such as India and Vietnam to all-time highs.

Beyond traditional property sectors, greater transparency is expanding the investable universe into more operationally intensive and non-traditional real estate. Alternative asset classes such as data centers and infrastructure now account for 20% of direct transaction volumes globally and investors in these sectors are placing greater emphasis on transparency around energy grid capacity and power resilience.

"Over the last cycle transparency gains have concentrated in debt markets and niche and alternative sectors, which are all gradually approaching the data availability in the traditional sectors," said Dominic Silman, Chief Economist for LaSalle. "As transparency in an alternative sector improves, that's often a leading indicator of growing institutionalization and investment."

At the same time, regulatory changes are bringing an influx of private wealth, retail and pension capital into real estate, creating a greater need for standardized, higher-frequency reporting and valuation transparency.

FAQs

1.) Why is transparency in some markets in the Asia-Pacific and Middle East improving so rapidly compared to the rest of the world? 

Answer: These countries are seeing the results of long-term government strategies aimed at economic diversification and attracting foreign investment. Rather than incremental changes, governments in places like India, Vietnam and South Korea are executing sweeping tech-forward reforms and enforcing stricter corporate governance.

2.) How is improved transparency impacting real estate investment in the most improved markets in the Asia-Pacific and Middle East regions? 

Answer: Transparency provides the price discovery and risk mitigation that institutional investors require. As these markets have improved their data availability and regulatory frameworks, capital has followed. We are seeing cross-border investment into APAC rebound sharply, with direct transaction volumes in both India and Vietnam hitting all-time historic highs.

3.) What specific technologies are driving transparency improvements?

Answer: It ranges from fundamental digital infrastructure to advanced AI. Governments are making significant progress in digitizing land registries, planning services and public records, providing real-time, disaggregated and publicly accessible property data. Globally, over 90% of occupiers and investors are now using AI tools to analyze market fundamentals, making centralized government data more valuable than ever for predicting capital markets opportunities.

4.) The report notes that global transaction volumes in "Highly Transparent" markets rose 64%. Does that mean capital is ignoring emerging markets? 

Answer: Not at all. Highly transparent markets account for about 80% of direct investment because they have the deepest capital markets and scale. However, there are significant untapped opportunities in a number of rapidly improving markets outside this group. As APAC and MENA markets close the transparency gap, they are likely to capture a larger share of global capital.

5.) Beyond traditional office, logistics and retail sectors, how is transparency evolving?

Answer: Alternative sectors such as data centers, manufacturing and infrastructure now account for 20% of direct transaction volumes globally, double their share from ten years ago. Transparency in 2026 isn't just about knowing building rents; it's about having clear data on operating expenses, energy capacity and costs and evolving regulatory environments.

For more news, videos and research resources on JLL, please visit JLL's newsroom.

About JLL
JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Contact: Jesse Tron
Phone: +1 212 376 1216
Email: Jesse.Tron@jll.com

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SOURCE JLL