Mumbai, Bengaluru, New Delhi shine in Knight Frank’s global residential index
Moving several notches up, these cities have, respectively, ranked 19, 22 and 25 on the index, while recording growth in residential prices
In a development that may bring cheer to Indian realtors, Mumbai, Bengaluru and New Delhi have moved several notches up on the Global Prime Residential Index that Knight Frank, a London-based property consultant, publishes on a quarterly basis every year.
The three Indian cities have, respectively, ranked 19, 22 and 25 on the Knight Frank index in the second quarter this year.
Among the Indian cities ranked on the Global Residential Cities Index Q2 2023, Mumbai has received the highest ranking as the city has moved 76 notches up from last year on the index to get the 19th position. The city has registered a 6 per cent increase in appreciation of residential prices in the second quarter this year.
Close on the heels of Mumbai, Bengaluru has witnessed a 5.3 per cent rise in appreciation of residential prices moving several notches up from 77th in 2022 to secure the 22nd position on the index.
Similarly, New Delhi has climbed 65 notches up to the 25th position globally in terms of appreciation of residential prices which registered a 4.5 per cent increase in the quarter compared to last year.
The Prime Index tracks the performance of luxury residential prices across key global cities on a quarterly basis using data compiled by Knight Frank's global research network, says the company website.
