Hyderabad Secures 128th Global Ranking In Appreciation In Housing Prices, Best In India

The city of Hyderabad has secured the 128th rank in a global list for its appreciation in housing prices, as per Knight Frank India. On the list, Turkey's Izmir city bagged the top spot with the biggest growth rate of 34.8 per cent, followed by Wellington in New Zealand with 33.5 per cent.

The Global Residential Cities Index Q3 2021, in its latest report, Knight Frank revealed that residential prices in over 150 cities globally went up in Q3 2021 at an annual average of 10.6 per cent YoY. With this, it became the fastest residential price growth rate since Q1 2005, as per a report in Financial Express.

Hyderabad in Telangana has secured the 128th spot with a 2.5 per cent year-on-year (YoY) increase in home prices. When it comes to the domestic level, Hyderabad registered the biggest residential appreciation amongst all the other Indian cities. Meanwhile, Chennai in Tamil Nadu has been ranked 131st on the global scale with a residential price appreciation of 2.2 per cent.

What Are The Other Indian Cities?

Kolkata in West Bengal has ranked 135th, with Ahmedabad placed 139th with its price appreciation of 1.5 per cent and 0.4 per cent respectively in the residential asset class.

Meanwhile, Mumbai was the lowest-ranked city from India with a global ranking of 146 on the index. The Maharashtra city also registered a staggering decline of 1.8 per cent in home prices. Furthermore, Bengaluru has ranked 140th with a diminishing rate of 0.2 per cent YoY, followed by Delhi with 142nd.

The Indian national capital recorded a decline of 0.7 per cent YoY. Pune in Maharastra was been named 144th on the list with a decline of 1.5 per cent in rates. The Global Residential Cities Index looks into the developments of mainstream residential prices over 150 different cities across the globe using official statistics.

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