Mumbai and New Delhi have recorded an annual increase in their real estate prices at 13% and 10.6% respectively, while Bengaluru has witnessed a modest 3.7% rise.
Globally, Manila has topped the Knight Frank’s Prime Global Cities Index with an increase of 26%. The Prime Global Cities Index is a valuation-based index tracking the movement of prime residential prices across 44 cities worldwide. The index tracks nominal prices in local currency.
Knight Frank, an international property consultancy, in its recent report ‘Prime Global Cities Index Q2 2024’ noted that key residential markets of Mumbai, and New Delhi have recorded an increase in the annual property prices with the the country’s financial capital witnessing an increase of 13% YoY followed by New Delhi at 10.6% YoY. Manila saw housing prices increase by 26% YoY.
Also Read: Mumbai watch out! Buyers are now lapping up over ₹ 10-crore luxury apartments in Bengaluru Mumbai, with a YoY price rise of 13% in prime residences, recorded the second highest (YoY) growth in prime residential prices in Q2 2024, pushing it up the ranking table to 2nd position from its 6th rank in Q2 2023. New Delhi, which recorded a rise of 10.6% YoY in prime residential property prices, made a jump in rankings going from 26th in Q2 2023 to 3rd in Q2 2024, the analysis showed.
Bengaluru maintains status quo, ranked 15th in the list Bengaluru (3.7%) maintained status quo on rank 15th in Q2 2023 and Q2 2024. Being the largest residential mar.