From The Economic Times · PTI · · 1m 10s
Mumbai Ranks 8th Globally in Housing Price Growth
Mumbai's prime housing prices rose 6.2% annually, ranking eighth globally in price appreciation.
In brief
Mumbai's prime housing prices rose 6.2% annually, ranking eighth globally in price appreciation. Mumbai ranks eighth globally in prime residential price appreciation with 6.2% annual growth. Originally reported by The Economic Times.
Global Prime Residential Price Growth
Mumbai ranks eighth globally in price rise for prime residential properties with 6.2 per cent annual appreciation during the June quarter.
Global Market Performance
Global prime residential prices rose 2.6 per cent annually in the April-June quarter, with 32 of 46 cities showing price growth.
Top Cities by Growth
Tokyo led with 50.7 per cent annual price rise, followed by Manila (14.6 per cent), Dubai (10.9 per cent), Singapore (9.5 per cent), and Nairobi (8.5 per cent).
Mumbai's Market Strength
Christchurch ranked sixth with 6.9 per cent appreciation, Seoul seventh at 6.4 per cent, Vienna ninth at 5.9 per cent, and San Francisco tenth at 5 per cent.
Knight Frank Chairman's View
Shishir Baijal noted Mumbai's top 10 global prime residential market position reflects strong demand at the top end with limited supply.
“Mumbai's position among the top 10 global prime residential market is significant because it comes against a more measured pace of global price growth.”
Market Resilience and Trends
Mumbai's housing prices rose 41 per cent in five years, with buyers prioritizing location, connectivity, and long-term asset quality.
“Buyers today are becoming far more discerning. They are placing greater value on location, connectivity, thoughtful design, lifestyle and the long-term quality of the asset.”
The main idea
Mumbai ranks eighth globally in prime residential price appreciation with 6.2% annual growth.
