The index ranks based on urban economies and real estate markets. As well as indexes in order of those experiencing the most rapid growth.
Indian cities dominate the ‘short term momentum ranking’ in JLL’s latest annual global report ‘City Momentum Index’ (CMI) 2018. Hyderabad and Bangalore are occupying the top two positions. Pune ranks at fourth.
It is followed by Kolkata (5th) and Delhi (8th) in the top 10 cities out of the 30 top global short-term growth cities.
Indian cities performed extremely well on key parameters of human resource, connectivity, real estate investments, property prices, economic output, corporate activities, construction and retail sales.
“India maintained it’s pre-eminence in the Short-Term Momentum rankings while these cities registered among the highest rates of demographic and economic growth globally. At the same time they also benefiting from government efforts to boost business attractiveness and invest in infrastructure,” the report said.
Indian cities have performed exceedingly well in the short-term momentum index. Therefore it will be a delight to see them become long-term investment destinations, JLL India CEO Ramesh Nair said.
While economic energy is propelling India’s cities forward, the consultant said that many of these cities also face challenges. Those are strains on infrastructure and local amenities. Also, high levels of economic disparity as well as affordability issues and environmental degradation.
To maintain their growth over the longer term, these cities will need to focus on future-proofing their markets. They can achieve this through improved livability and affordability, regulatory transparency and technological infrastructure.
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