






{"id":2920,"date":"2019-05-02T08:42:53","date_gmt":"2019-05-02T08:42:53","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=2920"},"modified":"2021-06-04T14:22:05","modified_gmt":"2021-06-04T07:22:05","slug":"asian-cities-are-coming-for-the-title-of-worlds-most-resilient","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/asian-cities-are-coming-for-the-title-of-worlds-most-resilient\/","title":{"rendered":"Asian cities are coming for the title of world\u2019s most resilient"},"content":{"rendered":"<p>&#8216;Challenger cities&#8217; to close in on New York and Tokyo over the next decade in Savills ranking<\/p>\n<figure id=\"attachment_2937\" aria-describedby=\"caption-attachment-2937\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-2937\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/05\/shutterstock_393768415.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/05\/shutterstock_393768415.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/05\/shutterstock_393768415-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/05\/shutterstock_393768415-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-2937\" class=\"wp-caption-text\">New York City? This is actually a replica of the Statue of Liberty along a walkway in Odaiba, Tokyo, Japan. r.nagy\/Shutterstock<\/figcaption><\/figure>\n<p>Cities in the US and Japan led Savills\u2019 Resilient Cities Index, but \u2018challenger cities\u2019 are rising fast elsewhere in Asia and the Middle East.<\/p>\n<p>New York, Tokyo, London and Los Angeles, in that order, were dubbed the world\u2019s most resilient cities, those that are quick to rebound from global disruptions on the real estate market, according to a recent ranking by Savills.<\/p>\n<p>These cities are likely to remain so until 2028, the consultancy suggested. However, no city in the US or Europe appears in the list of &#8216;challenger cities&#8217;: those predicted to enter the top 50 and make the biggest leaps up the ranking in the next decade.<\/p>\n<p>These challenger cities are Hangzhou, Nanjing and Ningbo in China; Delhi, Mumbai and Bengaluru in India; and Riyadh and Jeddah in Saudi Arabia.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/these-nations-spend-the-most-time-researching-property\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: These nations spend the most time researching property<\/strong><\/a><\/p>\n<p>\u201cWhat our eight challenger cities have in common,&#8221; said Sophie Chick, director in Savills world research, \u201cis that they are all likely to see substantial increases in their GDP and growth in household incomes, while their dependency ratios \u2013 the proportion of people of a non-working age to those of a working age \u2013 will either fall or increase at a lower rate than other major cities between now and 2028. This indicates that they are set to be young, prosperous, and able to adapt to changes in the way the world operates at a faster pace than some better known locations.\u201d<\/p>\n<p>The topmost cities on the Resilient Cities Index have seen high levels of investment as they are perceived as &#8220;safe havens&#8221; for capital, commented Simon Hope, head of global capital markets at Savills.<\/p>\n<p>\u201cHowever, as a result, their real estate assets have become correspondingly expensive and highly sought after,\u201d he added.<\/p>\n<p>The eight challenger cities may offer alternative investment destinations. One in five people in the world are Chinese, and with the Chinese economy growing to become the world\u2019s largest, challenger cities in China offer great areas of opportunity, in particular, Savills researchers suggested.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8216;Challenger cities&#8217; to close in on New York and Tokyo over the next decade in Savills ranking <\/p>\n","protected":false},"author":8,"featured_media":20028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[137,167,168],"class_list":["post-2920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-china","tag-middle-east","tag-savills","news_country-asia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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