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Digital Subscriptions > Cities Today > August 2018 > Real estate transparency–a key ingredient of a successful city

Real estate transparency–a key ingredient of a successful city

There is increasing recognition that the real estate industry can act as one of the fundamental drivers of a city’s success, contributing to a more competitive, efficient and flexible environment for businesses and communities. The sector plays a key role in transforming neighbourhoods, in providing productive spaces in which citizens can live and work, and in attracting new businesses and investment into cities.

In order to fulfill this role and operate efficiently and succesfully, the real estate sector requires high levels of transparency. The concept of transparency can cover a broad range of areas, from regulatory frameworks to indepth market information, and allows for standardised, clear and fair practices. This foundation allows businesses and investors to make decisions with confidence, while enabling governments to function effectively. High-quality property market data, for example, sends developers and investors a clear signal about when and what types of space to build. Moreover, data on environmental sustainability enables businesses to make informed choices and helps cities on the path to a more sustainable future. Real estate market transparency is one of the key attributes, therefore, of a successful, future-ready city.

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