Hyderabad recorded the highest office net absorption in 2019 (as a proportion of existing
stock) of any city globally, while it is also among the world's best-performing cities for
prime office rental growth.
US-based JLL is a Fortune 500 company with annual revenue of USD 16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. Hyderabad has emerged as the only Indian city in top 20 among 150 global cities, in terms of appreciation in residential real estate prices, standing at the 14th spot with a 9% on-year rise in home prices, showed a report.
Shortfall in launches has diverted homebuyers in Hyderabad towards the ready unsold units giving developers a bargaining edge and this has resulted in residential prices growth.
Among other Indian cities that have seen an appreciation in home prices, New Delhi stood at the 73rd rank globally, with a 3.2% rise; Bengaluru at the 94th rank with a 2% appreciation and Ahmedabad at the 108th rank with a 1.1% growth, showed a Knight Frank report.
Among the Indian cities which have seen de-growth in home prices, Kolkata was ranked at the 130th spot with a decline of 2%, Mumbai at the 135th rank with a de-growth of 3% and Chennai at the 136th rank with a fall of 3%. Pune was the lowest-ranked Indian city standing at the 138th spot, registering a 3.5% decline in home prices.
Hungary's Budapest led the index with the highest annual growth rate of 24%, followed by Xi'an in China and Wuhan in China at 15.9% and 14.9%, respectively.