Canada should be proud. It has another reason to be proud of our real estate market.
Why Canada Above the rest...
Canada is different from other global economy's with a combination of:
- Relatively low vacancy and rental volatility
- A sound banking system, with strong deposit bases and high capital reserve ratios going into the global recession
- Very well-developed commercial real estate lending standards
- Outstanding property markets which maintain stability
The respected biannual study, Jones Lang LaSalle’s Global Real Estate Transparency Index (GRETI), has listed Canada as the second best market in the world as it relates to “transparency” in real estate – meaning how much data is available on commercial real estate debt (originations, outstanding balances, maturities, and defaults) as well as how thoroughly real estate debt is monitored on banks’ balance sheets.
GRETI has been quantifying real estate market transparency across 81 markets worldwide since 1999. The index aims to help real estate investors, corporate occupiers and retailers understand important differences when transacting, owning and operating in foreign markets.
GRETI is also a helpful gauge for governments and industry organisations who are interested in improving transparency in their home markets. Rising levels of transparency are associated with rising levels of foreign direct investment – a powerful incentive for encouraging the free flow of information and the fair and consistent application of local property laws.
Canada is preceded on the GRETI list only by Australia - and followed closely by the UK. The US came in at spot #6, France at 8, and Germany at 10.