Cape Town and Durban - Top 50 Cities In Terms Of Capital Growth Worldwide
Cape Town & Durban Ranked as Top 50 Cities Worldwide In terms Of Capital Growth – Johannesburg ranked At 111th Position
Urban house prices across 150 key cities around the world increased by 5.5% on average in the year between June 2015 to June 2016, according to the Knight Frank Global Residential Cities Index (KFGRCI).
3 South African cities forms part of the 150 cities tracked by the international index – i.e. Cape Town, Durban and Johannesburg. According to KFGRCI, 114 cities recorded positive annual price growth in the year to June and, of these, 31 cities saw price growth exceed double digits.
Durban was the only South African city to achieve double figure growth in the period – ranking at 26th worldwide and at 10,8%. Cape Town achieved 42nd position at 8,4% - just above Melbourne at 8,2% - quite a feat and despite a sluggish national economy and political storm clouds hoovering.
Johannesburg achieved the 111th ranking position at only 0,5% capital growth for the year measured – confirming the tight local property market conditions which has been experienced in the Gauteng market during the last year. Despite being relatively lowly ranked, Johannesburg still achieved better growth rates than cities like Florence (113 / 0,3%), Milan (117 / -0,1%), Quebec (125 / -1,5%), Calgary (133 / -2,4%), Perth (141 / -4,8%) and Sevilla (147 / -7,9%).
Moscow (-11%) and Jaipur (-10%) occupy the bottom two rankings this quarter, in both cases sluggish economies are having a direct impact on housing demand. Other cities slipping in the rankings over the last quarter include Istanbul (3rd to 9th), Stockholm (6th to 29th) and Auckland (8th to 15th).
Rank - City - 12-month % change (Q2 2015 to Q2 2016)
1 Shenzhen, CN - 47.4%
2 Shanghai, CN - 33.8%
3 Nanjing, CN - 31.5%
4 Budapest, HU - 23.6%
5 Vancouver, CA - 23.4%
6 Beijing, CN - 22.3%
7 Guangzhou, CN - 19.4%
8 Hangzhou, CN - 17.4%
9 Istanbul, TR - 17.2%
10 Haifa, IL - 16.3%
11 Izmir, TR - 16.2%
12 Bristol, UK - 15.3%
13 Amsterdam, NL - 14.7%
14 Tianjin, CN - 14.6%
15 Auckland, NZ - 14.6%
16 London, UK - 14.4%
17 Wuhan, CN - 13.8%
18 Hamilton, CA - 13.8%
19 Oslo, NO - 12.7%
20 Portland, US - 12.6%
21 Victoria, CA - 12.5%
22 Toronto, CA - 12.4%
23 Chennai, IN - 12.1%
24 Malmo, SE - 11.6%
25 Seattle, US - 11.1%
26 Durban, ZA - 10.8%
27 Wellington, NZ - 10.7%
28 Nottingham, UK -10.7%
29 Stockholm, SE - 10.6%
30 Tel Aviv, IL - 10.4%
31 Ahmedabad, IN - 10.3%
32 Utrecht, NL - 9.8%
33 Wuxi, CN - 9.8%
34 Santiago, CL - 9.8%
35 Birmingham, UK - 9.6%
36 Ankara, TR - 9.6%
37 Zhengzhou, CN - 9.4%
38 Denver, US - 9.3%
39 Dallas, US - 9.0%
40 Ningbo, CN - 8.9%
41 Manchester, UK - 8.5%
42 Cape Town, ZA - 8.4%
43 Melbourne, AU -8.2%
44 Lucknow, IN - 8.1%
45 Tampa, US - 8.0%
46 Hague, NL - 7.9%
47 Mexico City, MX - 7.7%
48 Bengaluru, IN - 7.2%
49 Kuala Lumpur, MY - 7.0%
50 Miami, US - 7.0%