Indian cities- Mumbai, Delhi, and Bengaluru have climbed up the ladder. PIRI 100 tracks the movement of luxury house prices across the world.
According to Knight Frank Wealth Report 2023, Mumbai has emerged as the 18th most expensive (in US dollar terms) prime residential market in the world.
Among the Indian cities, Mumbai’s property market witnessed a price appreciation of 6.4%, moving up to the 37th position in 2022, as opposed to the 92nd position in 2021.
Bengaluru witnessed 3% prime property appreciation, climbing up to 63rd position from 91 whereas Delhi saw appreciation by 1.2%, moving up to 77th rank as against 93rd position.
Indian residential markets have shown growth in demand for the last many quarters, leading to a rise in the sales momentum of high-end properties.