As reported by Knight Frank, Bengaluru and the Delhi were ranked 26th and 27th respectively in annual value appreciation of global residential properties.
Mumbai is ranked 32, the consultant said in its ‘Prime Global Cities Index Q2 2020’ report. Whereas Bengaluru and Mumbai rose one place each, Delhi jumped five places compared to the prior report of Q1, 2020.
The capital worth expanded 0.6 percent in Bengaluru and 0.3 percent in the national capital, however, fell 0.6 percent in Mumbai during the April-June quarter this year, compared with a similar period a year ago.
Knight Frank said that Bengaluru has risen as the 26th quickest developing prime private market on the planet, as far as yearly value appreciation
Rates increased by 0.60 percent in Q2, 2020 to a regular price of Rs 19,727 per sq ft Delhi ranked 27th on the global index, with a 0.30 percent increase in terms of annual capital value in the prime residential call to an average price of Rs 33,625 per sq ft.
The report noted that Mumbai’s major residential market ranked 32nd in Q2 2020, registering a decline of 0.60 percent with a normal price of Rs 64,388 per square foot
The Prime Global Cities Index, an untested price index of prime residential prices over 45 cities, documented the shortest rate of annual growth in 11 years, with a 0.9 percent increase.
The Philippine capital Manila increases the key domestic prices index by 14.4 percent from 12 months to June 2020, pursued by Tokyo (8.60 percent) of Japan and Stockholm of Sweden (4.40 percent).
The consultant said that Bangkok, the capital of Thailand, is the weakest-performing global community from June to 2020, with amenity home prices down 5.8 percent.
The prime residential commodity is interpreted as the most desirable and vastly expensive property in a given space, usually defined as the top 5 percent value of each market.
The Prime Global Cities Index is a valuation-based file following the development in prime private costs in nearby money across 40+ urban areas overall utilizing information from Knight Frank’s worldwide research network.