Delhi and Bengaluru Climb in Global Luxury Real Estate Rankings, Mumbai Slips: Knight Frank
Delhi and Bengaluru have seen a significant surge in global luxury real estate rankings, with Delhi's luxury residential prices growing by 6.7% year-on-year. However, Mumbai has dropped to 21st place in the rankings.
Luxury Real EstateDelhiBengaluruMumbaiReal Estate MarketReal Estate MumbaiMar 05, 2025
According to the latest report by Knight Frank, two major Indian cities, Delhi and Bengaluru, have made notable strides in the global luxury real estate rankings, while Mumbai has experienced a slight decline.
This shift reflects the dynamic nature of the real estate market and the varying economic conditions in different regions of the country.
Delhi, the capital city of India, has shown robust growth in its luxury residential market.
The report indicates that luxury residential prices in Delhi grew by 6.7% year-on-year, a significant improvement that places it among the top performers globally.
This growth can be attributed to several factors, including strong economic fundamentals, a favorable business environment, and the influx of high-net-worth individuals (HNWIs) looking for premium living spaces.
Bengaluru, often referred to as the 'Silicon Valley of India,' has also experienced a surge in its luxury real estate market.
Known for its thriving tech industry and vibrant economy, Bengaluru has attracted a significant number of HNWIs and expatriates.
The city's luxury residential prices have shown a steady increase, driven by the demand for high-quality living and the availability of premium amenities.
This growth underscores Bengaluru's status as a premier destination for luxury living.
In contrast, Mumbai, one of the most populous and economically vibrant cities in India, has seen a decline in its global luxury real estate rankings.
The city has dropped to 21st place, down from its previous position.
The slowdown can be attributed to various factors, including regulatory changes, increased competition, and a shift in consumer preferences.
However, Mumbai's luxury real estate market remains robust, and experts believe it will continue to attract investors and buyers in the long term.
The global luxury real estate market is highly competitive, and cities across the world are vying for the attention of HNWIs.
According to Knight Frank, cities in Asia, particularly in India, are making significant strides in this market.
The report highlights the importance of factors such as economic stability, infrastructure development, and the availability of premium living options in driving the growth of luxury real estate.
Despite the challenges, the Indian luxury real estate market is poised for continued growth.
The government's initiatives to boost the real estate sector, such as the Real Estate (Regulation and Development) Act (RERA) and the Insolvency and Bankruptcy Code (IBC), have helped to create a more transparent and investor-friendly environment.
Additionally, the rising middle class and increasing disposable incomes are contributing to the demand for luxury properties.
In conclusion, the surge in Delhi and Bengaluru's luxury real estate rankings, along with Mumbai's slight decline, reflects the evolving dynamics of the Indian real estate market.
While challenges persist, the overall trend is positive, and the future looks promising for luxury real estate in these cities.
Frequently Asked Questions
What is the current ranking of Delhi in the global luxury real estate market?
Delhi has shown significant growth in the global luxury real estate market, with luxury residential prices growing by 6.7% year-on-year.
Why has Mumbai's ranking in the global luxury real estate market declined?
Mumbai's ranking has declined due to various factors including regulatory changes, increased competition, and a shift in consumer preferences.
What factors are driving the growth of luxury real estate in Bengaluru?
Bengaluru's luxury real estate market is driven by its thriving tech industry, vibrant economy, and the demand for high-quality living and premium amenities.
How is the Indian government supporting the real estate sector?
The Indian government has initiated several measures, such as the Real Estate (Regulation and Development) Act (RERA) and the Insolvency and Bankruptcy Code (IBC), to create a more transparent and investor-friendly environment.
What is the outlook for the Indian luxury real estate market?
Despite challenges, the Indian luxury real estate market is poised for continued growth, driven by economic stability, infrastructure development, and rising disposable incomes.
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