Mumbai ranks 6th among 46 cities globally in terms of annual price growth of high-end residential properties with appreciation of 5.5 per cent, according to Knight Frank.
Real estate consultant Knight Frank India in its report ‘Prime Global Cities Index Q1 2023’ said that Mumbai, Bengaluru and New Delhi have registered an increase in average annual prices in January-March 2023.
“Mumbai moved up from the 38th rank in Q1 2022 to the 06th rank in Q1 2023 based on the annual growth in high-end or prime properties,” the consultant said in a statement.
Bengaluru and New Delhi also witnessed an upward movement in index ranking to 16th and 22nd ranks from their previous 37th and 39th ranks, respectively, in the first quarter of 2022 calendar year.
“The rise in average prices in Mumbai was recorded at 5.5 per cent year-on-year (YoY), while it was 3 per cent YoY in Bengaluru, and 1.2 per cent YoY in New Delhi, compared to Q1 2022,” it said.