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JLL City Momentum Index

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1. Bangalore

India’s leading IT hub has attracted some of the world’s leading technology firms, as well as nurturing successful start-ups. This is driving strong real estate demand which, backed by exceptional levels of growth, has propelled Bangalore to the top of the Index. However, the city faces challenges to maintain its momentum that include infrastructure deficits, lack of planning oversight and environmental degradation.

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2. Ho Chi Minh City

Low costs, rapid consumer market expansion and a transition towards higher-value activities are driving significant levels of foreign direct investment and the construction of office, retail and hotel stock to meet demand. This transition is at an early stage, however, and congestion remains a serious impediment to the quality of life and productivity levels.

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3. Silicon Valley

The world’s foremost innovation ecosystem continues to attract talent, business and capital from across the globe. The area includes some of the U.S.’ leading tech submarkets and commercial development is continuing at a rapid rate. However, high costs and the possibility of waning tech sector momentum may start to present challenges in 2017 and 2018.

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4. Shanghai

Shanghai is sustaining its rapid move towards global city status. The city has ambitions to become a hub for financial services and innovation, and is investing heavily in order to achieve this. Infrastructure improvements, better intra-regional connectivity, deregulation, SOE reforms and expanding domestic firms are pushing the city forward. Congestion, housing affordability and air quality are key issues that will need to be addressed to maintain this trajectory.

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5. Hyderabad

Hyderabad has attracted major investments from the likes of Microsoft, Apple and Uber as a national technology centre. The city’s leadership has been instrumental in enabling Hyderabad to keep pace with Bangalore – helping to set up India’s largest incubator, focusing on specific niche industries (such as gaming and animation) and building business attractiveness. Ensuring that infrastructure keeps pace with the city’s rapid development will remain a priority, with the delayed Hyderabad Metro system set to open in 2018.

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6. London

London has fallen from the top spot (a position it has held for the past two years). Nonetheless, it remains in 6th position globally, testimony to its resilience following the EU vote and its strengths relating to education, innovation and technology. The final outcome of the ‘Brexit’ negotiations presents some uncertainty, and housing affordability and infrastructure capacity are also constraints to future momentum.

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7. Austin

Austin is the only city to make the top 30 cities in each of the three sub-categories. The city combines high quality of life with a low cost of living, while also possessing a strong education and innovation ecosystem, which has attracted talent and tech firms. Increased access to venture capital funding will an important step to ensuring continued growth in the tech sector, while Austin also faces a shortage of real estate supply to cope with current high demand.

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8. Hanoi

Hanoi, Vietnam’s capital, is seeing rapid economic growth, with strong increases in population and incomes driving its retail and residential sectors. The office sector is also experiencing high levels of development, and real estate investment into the city reached exceptional levels in 2016 buoyed by a nearly US$400 million office deal. A lack of world-class higher-education institutions and technology skills may slow the transition towards higher-value activities.

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9. Boston

Home to some of the world’s most respected universities, Boston is a global leader in innovation, research, technology and life sciences thanks to the concentration of human capital and density of research institutions. The city has also seen its centre rejuvenated, with the regenerating Seaport District having attracted the global headquarters of General Electric. Boston’s popularity means that affordability of housing is becoming an increasingly important issue.

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10. Nairobi

Nairobi is firmly established as a key gateway to East Africa, less dependent on oil and commodities than other regional peers. A development boom is in progress due to the strength of the economy and attractiveness of the city for business. Recently, it has emerged as a regional tech hub – home to Africa’s most successful tech incubator and a leader in mobile payment technologies. However, Nairobi faces challenges related to poverty, a lack of quality infrastructure, housing affordability and sprawl.

The World's Top 30 Most Dynamic Cities

View Slide Deck | View Infographic | Download Report
1 Bangalore
2 Ho Chi Minh City
3 Silicon Valley
4 Shanghai
5 Hyderabad
6 London
7 Austin
8 Hanoi
9 Boston
10 Nairobi
11 Dubai
12 Melbourne
13 Pune
14 New York
15 Beijing
16 Sydney
17 Paris
18 Chennai
19 Manila
20 Seattle
21 San Francisco
22 Shenzhen
23 Delhi
24 Raleigh Durham
25 Mumbai
26 Hangzhou
27 Los Angeles
28 Dublin
29 Nanjing
30 Stockholm

Click below to view cities in each group; click on one of the top 10 cities to find out more

Top 10
11 - 20
21 - 30
View all locations

What is the City Momentum Index?

The Index tracks the speed of change of a city's economy and commercial real estate market. It covers 134 major established and emerging business hubs and identifies cities that have the potential to maintain the greatest dynamism over the short and long term.

Short-Term Momentum

Short-Term Momentum

Economic Output | Retail Sales | Population | Air Connectivity |
Corporate HQs |
Foreign Direct Investment

View top 5

Short-Term Momentum

1 Ho Chi Minh City
2 Bangalore
3 Hanoi
4 Delhi
5 Hyderabad

City Momentum Index model incorporates
42 ingredients across 3 key areas

Commercial Real Estate Momentum

Commercial Real Estate Momentum

Construction | Absorption | Price |
Offices | Retail | Hotels |
Investment Transactions | Transparency

View top 5

Real Estate Momentum

1 Sydney
2 Seattle
3 Austin
4 Shanghai
5 Athens

Long-Term Fundamentals

Long-Term Fundamentals

Higher Education Infrastructure | Innovation Capability | International Patent Applications | Technology Firms | Environmental Quality

View top 5

Long-Term Momentum

1 Silicon Valley
2 London
3 Paris
4 Tokyo
5 Boston

World’s Most Dynamic Cities
Performance Across 3 Key Areas

Overall City
Momentum Rank

Socio-Economic
Momentum
Rank out of 134

Commercial
Real-Estate Momentum
Rank out of 134

Long-Term
Momentum
Rank out of 134
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