Hyderabad has been ranked 128th in a global list in terms of appreciation in housing prices, according to Knight Frank India. The Turkish city of Izmir is at the first position with the highest growth rate of 34.8 per cent, followed by Wellington in New Zealand at 33.5 per cent. In its latest report Global Residential Cities Index Q3 2021, Knight Frank said that residential price across the 150 cities worldwide increased at an annual average of 10.6 per cent YoY in Q3 2021. This is recorded as the fastest residential price growth rate since Q1 2005.
Hyderabad has been ranked 128th with 2.5 per cent year-on-year (YoY) rise in home prices. On domestic level, Hyderabad recorded the highest residential appreciation amongst the Indian cities. Chennai ranked 131st globally with residential price appreciation of 2.2 per cent. Kolkata ranked 135th and Ahmedabad at 139th with a price appreciation of 1.5 per cent and 0.4 per cent respectively in the residential asset class.
Mumbai was the lowest-ranked Indian city with a global ranking of 146th on the index, registering a decline of 1.8 per cent in home prices. Bengaluru ranked 140th with a decline of 0.2 per cent YoY, followed by Delhi at 142nd rank with a decline of 0.7 per cent YoY, Pune ranked 144th with a fall of 1.5 per cent in rates. The Global Residential Cities Index tracks the movement in mainstream residential prices across 150 cities worldwide using official statistics.