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ANALYSIS OF COMMON FEATURES OF COUNTRIES BASED ON THE GLOBAL REAL ESTATE TRANSPARENCY INDEX
Abstract
The Global Real Estate Transparency Index covers one hundred markets and is based on 186 variables. These indicators are divided into six parts – performance measurement, regulatory and legal frameworks, and governance of listed vehicles, market fundamentals, environmental sustainability and transaction process. The Index is one of the tools that helps to assess and compare markets across the Globe and give an idea of how investable the market is based on its transparency. Because transparency is critical to the operation of efficient markets. Within Europe, countries in the Central Europe region have shown the strongest advancements as they gradually catchup with their Western peers. Slovakia and Serbia are among the Top 10 global improvers, with Slovenia, the Czech Republic and Romania also progressing. Bulgaria in Southeastern Europe is in the last place. The aim of the paper is to cluster the countries across the world based on the indicators of the Global Real Estate Transparency Index and find out the countries with the common features. The Index 2018 covers 100 countries that were analyzed. The clustering K-means analysis and one-way ANOVA test for fulfilling the goal were used. It was found that the Czech Republic seems to be highly transparent in all the indicators, as well as its neighboring countries Slovakia, Denmark, Poland and Austria.
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