Ho Chi Minh City, Hanoi reached the top 10 fastest growing real estate market in the world
HCMC and Hanoi ranked third and sixth in the top 10 Jones Lang LaSalle Short-term Growth Index (JLL).
JLL has launched its fifth “City Growth Index (CMI)” report on the most dynamic cities in the world. This report tracks a number of factors to identify cities with successful attributes in the short and long term.
In the report, “Short-term growth index” ranks the fastest-growing urban and real estate markets. The rankings show the prominence of Asia-Pacific as a destination for investment, trade and global innovation, with 25 cities in the top 30 global.
Ho Chi Minh City and Hanoi ranked third and sixth in the top 10 short-term growth index of JLL. Synonymous TP. HCMC and Hanoi are considered as the fastest growing economy and real estate markets in the world.
According to JLL, TP. HCMC and Hanoi are attracting a considerable amount of foreign direct investment (FDI) as Vietnam integrates into the high-tech manufacturing supply chain in the region and globally. This helped the economy and income levels to grow rapidly, leading to the highest increase in retail rates and passenger numbers in the world.
“It is no surprise that both Ho Chi Minh City and Hanoi are in the top 10. The growth rate of both cities is very clear and the government is making significant investments in infrastructure, This growth in the future, “said Stephen Wyatt, general director in Vietnam of JLL.
Besides the remarkable coming from Vietnam, “Short-term growth index” also continues to honor India and China.
India is still ahead of the short-term growth table with the top four cities, including Hyderabad (1st), Bangalore (2nd), Pune (4th) and Kolkata (5th).
In addition, India’s first-tier cities, including Delhi (8th), Chennai (14th) and Mumbai (20th), also reached the top 30.
China continues to maintain its status with 11 cities in the top 30 worldwide. In particular, Nanjing (7th) and Hangzhou (9th) are the top markets, thanks to the growth of the value chain. Guangzhou (16th) and Shenzhen (19th) are well-known cities with many talents who are becoming global leaders in advanced technology and production.
The “mature cities” like Shanghai (15th) and Beijing (22nd) continue to be the most dynamic markets in the world, backed by a team of innovative new generation companies, fast-paced infrastructure and qualified workforce.
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