Mumbai is 16th most expensive prime residential property market in the world

Mumbai, India’s commercial capital, has emerged as the 16th most expensive prime residential property market in the world

In terms of price rise, Indian luxury home markets remained low on the growth chart with Delhi gaining 1.4%, Bengaluru 1.1% and Mumbai 0.3%, showed Knight Frank’s Prime International Residential Index.

Known for its upscale casinos, yacht-lined harbour and prestigious Grand Prix motor race, Monaco emerged as the most expensive of all prime markets globally. One can buy only 172 sq ft with the budget of $1 m. Mumbai has shown a downward movement in capital values for its prime residential markets. In Mumbai, $1 m can now buy around 1,076 sq ft translating to around $930 per sq ft.