New Delhi Climbs to 6th Spot Globally in Luxury Home Price Surge

New Delhi ranks sixth globally for luxury home price appreciation, with prices increasing by 6.7% in Q4 2024, per Knight Frank. Influenced by affluent buyers and a robust economy, this rise reflects a significant global trend, with Mumbai and Bengaluru also witnessing positive growth.

In a remarkable leap, New Delhi has soared to the sixth position among 44 cities worldwide for luxury home price appreciation, according to the latest Knight Frank report. The national capital experienced a 6.7% increase in the rates of luxury homes during the December quarter of 2024.

The 'Prime Global Cities Index Q4 2024', released by real estate consultant Knight Frank, indicates a valuation-based tracking of prime residential prices across 44 global cities. Notably, Seoul tops the list with an 18.4% surge, followed by Manila, Dubai, Tokyo, and Nairobi.

Shishir Baijal, Chairman and Managing Director of Knight Frank India, attributed the growth to a rush among affluent buyers for lifestyle upgrades amidst India's stable economic conditions. Other Indian cities like Mumbai and Bengaluru have also shown impressive growth in the luxury real estate sector.