Mumbai ranks 8th globally in price appreciation of prime housing properties: Knight Frank

New Delhi: Mumbai ranks eighth globally in price rise for prime residential properties, with an annual appreciation of 6.2 per cent during the June quarter, according to Knight Frank.

Real estate consultant Knight Frank India said that global prime residential prices rose 2.6 per cent annually in the April-June quarter. Of the 46 cities tracked, 32 recorded annual price growth.

Bengaluru ranked 12th globally with 4.5 per cent annual growth, while New Delhi ranked 17th with 3.9 per cent growth.


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According to the data, Tokyo ranked first with a 50.7 per cent annual price rise, followed by Manila (14.6 per cent), Dubai (10.9 per cent), Singapore (9.5 per cent) and Nairobi (8.5 per cent).

Christchurch was at sixth position with an appreciation of 6.9 per cent, while Seoul was seventh registering 6.4 per cent increase in housing prices.

With a 5.9 per cent price rise, Vienna was at 9th position and San Francisco at 10th place, clocking 5 per cent appreciation.

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Shishir Baijal, Chairman and Managing Director of Knight Frank India, said, "Mumbai's position among the top 10 global prime residential market is significant because it comes against a more measured pace of global price growth."

The city's 6.2 per cent annual growth reflects the depth of demand at the top end of the market, where location, quality, and differentiated residential offerings continue to support values, he added.

"For investors and buyers, this reinforces Mumbai's position as a market where prime residential assets remain closely linked to long-term wealth creation and limited supply," Baijal said.

Jason Samuel, Managing Director of Mumbai-based realtor House of Swamiraj, said the prices have risen by 41 per cent in the last five years, reflecting the resilience of Mumbai's premium housing market.

"Buyers today are becoming far more discerning. They are placing greater value on location, connectivity, thoughtful design, lifestyle and the long-term quality of the asset. For developers, this is both an opportunity and a responsibility," he added.