Mumbai ranks sixth among 46 cities globally in terms of annual price growth of high-end residential properties with appreciation of 5.5%, according to Knight Frank.
"Mumbai moved up from the 38th rank in Q1 2022 to the sixth rank in Q1 2023 based on the annual growth in high-end or Prime Properties," the consultant said in a statement.
"The rise in average prices in Mumbai was recorded at 5.5% year-on-year (YoY), while it was 3% YoY in Bengaluru, and 1.2% YoY in New Delhi, compared to Q1 2022," it said.
Mumbai's significant rise on the international index was largely due to the rise in demand in the city, the consultant attributed.
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Ruchi Mane
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Ruchi Mane is the Senior Editor at Houssed, leading the platform’s real estate news coverage. She tracks trends in India’s luxury property market while overseeing editorial strategy, PR outreach, and social media communication.