New Delhi: As the city of India’s capital prepares to mark the birth of its next great city, Sinic has been named as the best place in the world to live in 2018, according to the latest annual global property survey from the real estate company CBRE.
With a population of 1.2 billion, India is ranked first for average property values per person and is second for number of houses per 1,000 people, according CBRE India.
The survey, released by CBRE, is the latest in a series of annual rankings released by the real-estate company.
While Sinic had a median value of Rs 9,100 ($1,300), it had an average property value of $1,068, while a family of four was earning $7,764 per month.
A family of six earned $17,062 per month, with a house worth about $13.5 million.
A family of five earned $24,834 per month with a property worth about a quarter of that.CBR India, the world’s largest real estate consultancy, also said that Sinic was one of the best cities to live and work in India.
“With its high level of wealth and diversity, Sini is also an attractive destination for people who are ambitious and want to improve their quality of life,” said Amit Bhardwaj, CEO and founder of CBRE Asia.CBN News contacted Sinic to get its take on the survey.
“We are proud of the progress made by Sinic in the past three years, and we are looking forward to building the future,” said Sinic director-general Nandini Khandan.
The city has become one of India and the worlds fastest-growing cities over the past five years, according the CBRE report.
Its growth rate is now at a robust 24.3%, up from a 5.5% annual rate in 2016.
“The city is experiencing a transformation.
It is one of only two Indian cities that have achieved an ‘outstanding’ rating in CBRE’s annual ranking.
Sinic is an attractive, cosmopolitan city with the most diverse population in India,” said Bharti Rana, head of property research at CBRE and a partner in the report.
The global property rankings are compiled by CBre and are based on a review of the top 50 metropolitan areas, with data from the World Bank, the United Nations Population Fund and CBRE China.
The rankings were released on Tuesday.