Latest News | Mumbai Ranks 4th Globally in Terms of Price Rise of Luxury Homes

New Delhi, Nov 1 (PTI) Mumbai is at 4th position among 46 cities globally in terms of price rise of luxury residential properties, according to Knight Frank.

Real estate consultant Knight Frank India on Wednesday released ‘Prime Global Cities Index Q3 2023' and said Mumbai, Bengaluru and New Delhi recorded an increase in average annual prices of prime residential or luxury homes in the July-September period.

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"Mumbai recorded the 4th highest year-on-year growth in prime residential prices in Q3 2023. The 6.5 per cent increase in prime residential prices has moved the city up by 18 places from 22nd rank in Q3 2022," Knight Frank said.

New Delhi and Bengaluru also recorded an upward movement in their index rankings. NCR moved to 10th in the third quarter (July-September) of 2023 with a growth of 4.1 per cent year-on-year from 36th rank in the year-ago period.

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Bengaluru's rank increased to 17th rank in the quarter under review against 27th rank in the third quarter of 2022, a year-on-year growth of 2.2 per cent.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)