The 12th Global Transparency Index, produced by JLL and LaSalle Investment Management, found that Edinburgh is the world’s 15th most attractive place for real estate investment, while Glasgow ranked 18th.

The Index produces its findings based on the availability and quality of performance benchmarks and market data, governance structures, regulatory and legal environments, transactions processes and sustainability instruments. It measures transparency for investors across 156 cities in 94 countries and territories.

Scotland’s two largest cities came ahead of international counterparts, including Chicago and Brisbane. The UK came top of the global transparency rankings, with the United States, France, Australia and Canada making up the rest of the top five. London was ranked the most transparent city globally for investors.

Alasdair Humphery, head of Scotland at JLL said: “The built environment has a sizable role to play in tackling some of the biggest issues of our time and there is increasing pressure from companies, consumers and investors for greater levels of transparency, especially in areas like sustainability.

“Scotland’s two largest cities have long been recognised as leaders in sustainable and progressive transformation, while businesses there also continue to modernise through the adoption of new technology and infrastructure. Both have clear goals for the future and it’s great to see that this work has not gone unnoticed on the global stage.”

Richard Bloxam, CEO for capital markets at JLL, said: “Our research shows that transparency is synonymous with prosperity. Those that are forging ahead with tech adoption, climate action and regulatory changes fit for a fast-changing world are in a prime position to reap the rewards of international investment.

“While the UK – and its major cities – is placed high in the rankings, it’s not the time to be complacent. With the US maintaining its place as a global leader and other key markets emerging as transparency hubs, it’s crucial that the country embraces ambitious and clear climate goals, commitments and standards to continue to attract investors.”