Mumbai (Maharashtra) [India], November 22 (ANI): Mumbai and Delhi have secured spots among the top five cities in the Asia-Pacific (APAC) region for annual price growth in luxury residential markets, according to Knight Frank's latest report. Alongside Vietnam and Thailand, India is highlighted as one of the emerging markets in the region, driven by its strong economy, supportive policies, and improving infrastructure. Also Read | Australia Cricket Board To Honour Late Philip Hughes on 10th Anniversary of Australian Batsman's Tragic Passing.
Mumbai has emerged as a leader in luxury property growth, ranking third in the APAC region with an 11.5 per cent year-on-year (YoY) increase in Q3 2024. This growth is closely linked to the robust performance of Indian stock markets, which have reached record highs.
Mumbai is now the 14th most expensive APAC city for prime residential properties, with an average price of USD 953 per sq ft. Buyers with USD 1 million can secure approximately 103 sq m of luxury real estate in the city, reflecting its strong investment potential. Also Read | Byju Raveendran Accused of Using Hidden Cash To Buy Back a Software Company.
Delhi also performed well, ranking fifth with a 6.5 per cent YoY increase in luxury property prices. The city is the 19th most expensive market in the APAC region, with an average price of USD 452 per sq ft.
Bengaluru followed closely, ranking seventh with a 4.8 per cent YoY increase in prime residential prices, where properties .
