The Global Real Estate Transparency Index (GRETI) by Jones Lang Lasalle measures the performance, market fundamentals, governance, regulatory & legal, transaction process and sustainability of the real estate market in the world.
The report revealed that the sub-Saharan African real estate market has had modest advances as improvements stall.
There have been moderate changes in the South African market but remains the most transparent real estate market in the region in 2022. Digitization of land registry and regulations of new beneficial ownership in Kenya has improved their transparency score in 2022.
Also, the introduction of the Lagos State Real Estate Regulatory Authority and the development of an online portal for planning applications have brought transparency to the market in Nigeria a bit.
However, most real estate markets across the region have slipped off the ranking including Ethiopia, Senegal, Tanzania, etc.