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
Related News Articles
Indian Residential Property Market Sees Steady Growth Post 2019 Elections
The Indian residential property market has witnessed a significant surge in prices, with a 6% annual growth rate, following the 2019 elections. Cities like Pune, Hyderabad, and others have seen a notable increase in property prices, suggesting a link betw
Patna-Sasaram Expressway: 120 km Greenfield Route Approved to Boost Bihar's Economy
The newly approved Patna-Sasaram Expressway, a 120 km greenfield route, is set to revolutionize Bihar's economic landscape by creating employment opportunities and boosting property market values.
Key Stocks to Watch: IndusInd Bank, Tata Tech, Wipro, Trent, Adani Green, Hexaware Tech, and CESC
Explore the latest updates on key stocks to watch, including IndusInd Bank, Tata Tech, Wipro, Trent, Adani Green, Hexaware Tech, and CESC. Dive into the performance and market outlook of these companies in the dynamic Indian stock market.
Pune Road Widening Project Hits Snag as State Orders Fresh Proposal Review
The widening of 323 roads in Pune has been delayed as the state government orders a fresh review of the project proposal, raising concerns among residents and stakeholders.
Mumbai Real Estate Sees Surge in January Property Registrations, Highest in 13 Years
Mumbai's real estate market recorded a significant surge in property registrations in January, marking the highest in 13 years. The central suburbs, in particular, witnessed a notable increase in market share, rising from 29% to 33%, while the western sub
Mumbai's Luxury Real Estate Market Sets New Benchmark with ₹187.5 Cr Lodha Sea Face Apartment Sale
Mumbai's luxury real estate market has reached new heights with the sale of a Lodha Sea Face apartment for ₹187.5 crore, translating to an unprecedented ₹1.8 lakh per square foot for the carpet area. This transaction reflects the growing demand for premiu