Global Cities with Soaring Housing Prices: Mumbai Ranks Third
Mumbai has ranked third among 44 global cities in terms of appreciation of housing prices, with an annual growth rate of 11.5%
Housing PricesReal EstateMumbaiKnight FrankGlobal CitiesReal Estate MumbaiJun 14, 2024
Topping the list was Manila, Philippines, with an impressive 26.2% annual growth rate, followed by Tokyo, Japan, with a growth rate of 12.5%. Perth and Delhi ranked fourth and fifth, with growth rates of 11.1% and 10.5%, respectively.
The report highlights the growing demand for housing in Mumbai, driven by its status as a financial hub and the influx of professionals and entrepreneurs. The city's limited supply of housing and increasing costs of construction materials have also contributed to the rising prices.
Knight Frank is a leading global real estate consultancy providing expertise in residential, commercial, and agricultural property. With over 500 offices in 60 countries, Knight Frank is one of the largest and most respected real estate companies in the world.
Knight Frank is a global real estate consultancy providing strategic advisory, transactional, and management services to investors, developers, and occupiers. Founded in 1896, Knight Frank has a long history of delivering exceptional results and exceeding client expectations.
Frequently Asked Questions
Which city ranked first in terms of appreciation of housing prices?
Manila, Philippines, with an annual growth rate of 26.2%
What is the annual growth rate of housing prices in Mumbai?
11.5%
Which real estate consultancy released the report on rising house prices?
Knight Frank
What is driving the demand for housing in Mumbai?
Mumbai's status as a financial hub and the influx of professionals and entrepreneurs
How many offices does Knight Frank have worldwide?
Over 500 offices in 60 countries
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