Real estate transparency is a metric of performance for real estate markets around the world. In the past decade, continuing revelations from the Panama and Paradise Papers, have shifted the focus of the investors towards real estate transparency. Now there is a heightened sense of awareness amongst investors regarding issues of corruption, tax evasion, and transparency in the real estate sector.
The adoption of Proptech technologies like Artificial Intelligence and Blockchain has facilitated real estate transparency in these markets. Pakistan holds a low rank of 73 on the JLL transparency index as the sector remains void of effective regulations. Recently, the government passed a RERA bill that will facilitate the establishment of a real estate regulatory authority for monitoring the real estate sector in Pakistan