Here's another feather in Hyderabadâ€™s cap. The city is the only city from India to figure in the top 15 of the Global Residential Cities Index for the Q3 2019. On a year-on-year basis, the city has recorded an appreciation of 9 per cent in residential prices in the third quarter of the year that has just gone by.
Two other main cities of India â€“ the national capital of New Delhi and IT capital city Bengaluru stood at 70th and 94th rank in terms of appreciation of home prices. World over, Budapest, the capital city of Hungary leads with an appreciation of 24.1 per cent while Xian city and Wuhan in China are in the second and third positions with 15.9 and 14.9 per cent.
This recognition comes after it has been named recenty the world's most dynamic city both on the commercial real estate and socio-economic fronts. The ratings have been given to 150 global cities in terms of home price appreciation. Interestingly, cities ike Kolkata, Mumbai, Chennai and Pune have registered a negative growth in terms of home prices. The study shows that the fundamentals of Hyderabad are strong and the growth has been consistent since 2014, when the state was newly carved out.