Vietnam ranks #49 in real estate transparency, plus other news

For PropertyGuru’s real estate news roundup, Vietnam ranked 49th in real estate transparency. In other updates, the Philippine House of Representatives pushes for a measure that will improve the delivery of socialised housing programs. And thirdly, Hong Kong’s government watchdog has launched an investigation into delays in the recovery of public rental housing flats.

Vietnam ranks 49th out of 89 economies in terms of real estate transparency: JLL

Vietnam ranked 49th out of 89 economies in terms of real estate transparency, according to a recent Global Real Estate Transparency Index (GRETI) 2024 rankings by global property services firm Jones Lang LaSalle (JLL), as cited by VietnamPlus. GRETI is based on a combination of quantitative market data and survey results across 89 countries and 151 city markets.

“During these times of heightened uncertainty, transparency is more important than ever as the foundation which allows real estate occupiers, investors and lenders to operate and make decisions with confidence,” the report wrote.

Vietnam improved from 52nd in 2022 rankings to 49th this year, maintaining its position among the group of semi-transparent markets.

House pushes for improved socialised housing programs in the Philippines

A measure seeking to improve the delivery of socialised housing programs has hurdled second reading at the House of Representatives.

During the plenary session on 4th September, the chamber passed through voice voting House Bill 10772, which seeks to amend Sections 10, 18 and 20 of Republic Act 7279 or the Urban Development and Housing Act.

Quezon City Representative Ma. Victoria Co-Pilar said the bill’s objective is to provide decent and affordable housing to underprivileged and homeless citizens in urban centres and resettlement areas. “Housing is an essential component of human well-being, a necessity that provides not only physical shelter but also a sense of security, stability, and community. Access to adequate and affordable housing is a fundamental human right and is considered an important indicator of a country’s social and economic development as one of the factors that dictate the quality of life of a citizen,” Co-Pilar said in PNA.

Hong Kong gov’t watchdog investigates delays in reallocation of vacant public rental flats

Hong Kong’s government watchdog has launched an investigation into delays in the recovery of public rental housing flats, citing a case in which refurbishing works took four times longer than expected.

The Ombudsman said on Thursday that it would probe the Housing Authority and Housing Society’s arrangements in recovering public rental units in line with the government’s goal of increasing housing supply. A quicker recovery process would benefit families in the queue for public housing, the watchdog said in a statement reported in HKFP.

The two housing bodies recover and redistribute public flats vacated by their former tenants. Last year, over 80 per cent of the 23,600 flats allocated by the Housing Authority were recovered flats, the Ombudsman said.

The Property Report editors wrote this article. For more information, email: [email protected].