12/07/2024
Mumbai experienced the highest jump in prime residential housing prices among Indian cities during the first quarter of 2024, according to Knight Frankâs âPrime Global Cities Index Q1 2024â. With an 11.5% year-on-year increase, Mumbai secured the third position globally in terms of appreciation of luxury residential housing prices. Delhi also saw significant growth, with prices rising by 10.5% year-on-year, securing the fifth position on the global index. This marked an improvement from the previous yearâs rankings. Bengaluru, on the other hand, dropped in ranking to 17th place due to a 4.8% year-on-year increase in luxury residential prices.
The report highlighted the surge in house prices in Indiaâs main cities, driven by robust economic growth. The Chairman and Managing Director of Knight Frank India attributed the improved rankings of Mumbai and Delhi to the resilience in sales growth volume and expect the momentum to remain stable in the coming quarters.