Mumbai and Delhi Housing Prices Soar in Global Rankings

Mumbai and Delhi have seen considerable appreciation in housing prices, ranking third and fifth respectively in Knight Frank's global index for Q1 2024. Both cities have climbed in rankings compared to last year, showcasing strong growth trends. Manila and Tokyo lead the pack, while Bengaluru saw a slight decline.

Mumbai and Delhi have emerged as significant players in the global housing market, securing third and fifth positions respectively in terms of housing price appreciation during the January-March 2024 period, as reported by Knight Frank.

In a dramatic improvement, Mumbai, which ranked sixth last year, saw an 11.5% YoY rise in prime residential prices. Delhi showcased an impressive leap from 17th to 5th rank, reflecting a 10.5% YoY growth. Notably, Manila clinched the top spot with a 26.2% annual growth in prices, followed by Tokyo at 12.5%.

However, Bengaluru's ranking dropped from 16th to 17th, despite a 4.8% YoY growth in residential prices. Knight Frank's 'Prime Global Cities Index Q1 2024' underlines the global trend of strengthening housing prices, with average annual house price growth hitting 4.1% across 44 cities.