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Asia Pacific Cities Lead JLL’s Short-Term Momentum Rankings

Singapore in “sweet spot” of city dynamism

SINGAPORE, 19 March 2018 — Asia Pacific cities dominate JLL's Short-Term City Momentum Index (CMI) 2018 rankings with Hyderabad, Bangalore and Ho Chi Minh City taking the top three spots.


Markets from the Asia Pacific region account for 25 of the Global Top 30 in the index, which measures each city's short-term socio-economic and commercial real estate momentum. The findings highlight the continued rise of Asia Pacific's cities as destinations for global capital, business and innovation, according to JLL's report "City Momentum Index 2018: Agility, Talent and Technology."


The 2018 edition of the City Momentum Index focuses for the first time on two separate elements of city dynamism: short-term market momentum and 'future-proofing' for longer-term success.


The Short-Term Momentum rankings identify the urban economies and real estate markets that are currently undergoing the most rapid growth. The Future-Proofing index looks at the qualities cities require to manage and benefit from the rapid technological shift in the global economy, says the report.


Other Asia Pacific cities in the Short-Term Momentum Top 30 rankings include China's Nanjing (7th place) and Hangzhou (9th place).  They are the country's top performers in the index.


Short and long term factors


"Asia Pacific's cities continue to experience phenomenal rates of change as they serve expanding domestic economies and act as gateways to the world's fastest-growing region for global investment and trade. Robust growth is contributing to real estate market momentum across the region, with significant levels of construction as modern stock is built to meet demand and record levels of commercial real estate investment in 2017," says Jeremy Kelly, Director, Global Research, JLL.


"However, rapid growth can also lead to issues such as strains on infrastructure, affordability constraints and environmental degradation. In order to maintain their growth over the longer term, Asia Pacific's cities will need to focus on future-proofing their markets through improved liveability and affordability, regulatory transparency and physical and technological infrastructure," he says.


Singapore in a unique position


The report also identifies Singapore as being the only Asia Pacific city that is in the "sweet spot", scoring in the Global Top 30 on both measures. The city-state ranks 26th for short-term economic and real estate dynamism and 29th for its effort in future-proofing for longer-term success.


"Singapore has seen a pick-up in short-term momentum across most measures included in the CMI over the last year. Its robust economic growth and strong Foreign Direct Investment (FDI) volumes have supported a rebound in rental growth. Singapore is expected to record the largest rental growth of any major office market in 2018," according to Kelly. "The city's future-proofing score is supported by a strong educational system and pro-active government policies," he adds.


The Established World Cities of Tokyo, Seoul, Sydney and Melbourne continued to feature strongly in the Future-Proofing Global Top 30, according to the report.


"The need to take into account a city's future-proofing capabilities is increasingly recognised by real estate investors, developers and corporations," says Kelly.


"For investors, there is an imperative to know which cities will be able to gain from technological transformation for long-term value preservation and growth. Developers can contribute to city success by understanding city strategies and their capacity for supporting the move towards new types of economic activity, enabling them to produce transformational projects that facilitate creativity, innovation and the sustainable communities that businesses and workers are now demanding."


About the City Momentum Index


JLL's Global Research combined a total of 46 variables to assess short-term momentum and longer-term future-proofing attributes. New indicators in the CMI 2018 include the number of technology 'unicorns' created in each city and the quality of public transport infrastructure.


Both indices cover 131 major established and emerging business hubs across the globe. The short-term component of the CMI incorporates forecasts over a 3-year (2018-2020) horizon. The future-proofing index focuses on elements which are expected to impact a city's competitiveness over a long-term (10 year) time-frame.


For more details on the CMI 2018, click here.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specialises in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit


JLL has over 50 years of experience in Asia Pacific, with over 37,000 employees operating in 96 offices in 16 countries across the region. The firm won 23 awards at the International Property Awards Asia Pacific in 2017 and was named number one real estate investment advisory firm in Asia Pacific for the seventh consecutive year by Real Capital Analytics.