The Hungarian capital of Budapest has been recognized as the global city with the fastest-growing home prices in 2019, according to a new report by Shanghai-based Hurun, while Dali City in the southwestern province of Yunnan and the north-central city of Xian placed second and third, respectively.
Home prices in the Hungarian capital of Budapest posted the biggest jump last year, rising by 21.8 percent. Six of the top ten cities are in mainland China, with the city of Dali in southwest China’s Yunnan province, leading the charge with a 20.2% rise in prices.
Interestingly, Hong Kong, famous for its exorbitant property prices, has fallen off the annual list of the top 50 cities ranked by the rate at which their house prices are increasing.
Last year, Hong Kong was in 6th place after prices soared by 13.3%, but it is nowhere to be seen on the Index. The report said Hong Kong’s home prices gained 4.7% last year, has soared 13.3% in 2018 and 13.1% in 2017. Now in its seventh edition, Global House Price Index lists the 50 cities with the highest house price changes in the 12 months to December 31, 2019.
The Top 50 cities are from 22 countries, of which China led with 27, an increase of 5 over the same period last year; followed by Switzerland and Greece, with 2 each; Japan, Russia, Netherlands, Canada, Germany, France, Italy, Luxembourg, Austria, Hungary, Poland, Colombia, Croatia, Slovakia, Estonia, South Africa, New Zealand, Thailand and India each had 1 city make the list.
European cities that made the Top 50: Budapest, Saint Petersburg, Warsaw, Athens, Luxembourg, Lyon, Geneva, Bratislava, Luzern, Utrecht, Tallinn, Hamburg, Milan, Thessaloniki, and Vienna.
Top 50 global cities with the fastest-growing home prices in 2019
|Rank||City||Country||2019 Growth rate of house price (12 months to 31 December 2019)|
|31||Cape Town||South Africa||9.1%|
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