Knight Frank Released Its Global Prime Residential Index

Description

Knight Frank, a London-based property consultant, has launched its Global Prime Residential Index, which provides insight into the performance of several cities around the world in the residential real estate market. Mumbai, Bengaluru, and New Delhi have shown significant growth in the latest report for Q2 2023, achieving notable positions on the index.

Mumbai: A Spectacular Rise to 19th Place

• Mumbai has risen 76 places to the 19th position on the index, up from the 95th position in Q2 2022, thanks to an incredible yearly percentage change of 6%.

• Mumbai now ranks first among Indian cities in terms of percentage rise on the worldwide index. Mumbai's home prices increased by 6% year on year in the second quarter of 2023.

Bengaluru Comes in Second Place

• Bengaluru, renowned as India's Silicon Valley, is the index's second-highest ranked Indian city.

• The city has risen from 77th to 22nd in Q2 2022, demonstrating the rapid expansion it has experienced.

• Bengaluru's residential prices increased by 5.3 percent year on year in Q2 2023, demonstrating the city's growing appeal to real estate investors and homebuyers.

New Delhi: Climbing the Global Ladder

• New Delhi, India's national capital, is ranked 25th on the Global Prime Residential Index.

• It has risen 65 positions since its 90th position in Q2 2022, a substantial increase.

• In the second quarter of 2023, New Delhi's home prices increased by 4.5 percent year on year, reflecting the city's consistent expansion in the real estate sector.

Chennai and Kolkata: Rising Stars

• Chennai and Kolkata, two other big Indian cities, have made significant gains in the ranking as well. In the second quarter of 2023, they were ranked fourth and fifth in India, and 39th and 40th internationally.

• Both cities had price increases of 2.5 percent year on year, a significant improvement from the previous year when they placed far lower, at 107th and 114th globally.

Global Residential Price Growth Trends

• According to Knight Frank's Global Residential Cities Index for Q2 2023, residential price growth in the world's 107 largest cities has decreased.

• It declined to 1.7 percent year on year in Q2 2022, from 11.7 percent year on year. This drop is more dramatic than the first wave of the pandemic, which saw growth fall to 2.9 percent in the second quarter of 2019.

The Real Estate Market in India: A Look Into the Future

Knight Frank's latest Global Prime Residential Index shines light on India's dynamic real estate market and offers a view into the developing landscape of global property investments. With cities like Mumbai, Bengaluru, and New Delhi making tremendous achievements, it's clear that the Indian real estate business is heading in the right direction.

Welcome to Notopedia.com, your free learning platform that caters to the diverse needs of students and aspirants across a spectrum of entrance exams and educational endeavors. Whether you're preparing for highly anticipated exams like CAT 2023, NEET 2023, JEE Main, or bank job vacancies, our platform offers a wealth of resources to guide you towards success. Stay up-to-date with the latest exam dates, announcements, and results for various government recruitment exams, including SSC CGL, CHSL, NDA, and UPSC. Explore comprehensive study materials, sample papers, and exam patterns to hone your skills and boost your confidence. From important dates like CBSE Class 10 and 12 date sheets to exam-specific information like JEE Main 2023 application form date, we cover it all. Notopedia.com is your go-to source for everything from admissions and admit cards to scholarships and college information. Whether you're aiming for a career in defense, government, banking, or higher education, our free learning platform equips you with the knowledge and resources you need to excel. Join us in your educational journey and unlock a world of opportunities, guidance, and comprehensive support.

For more Updates and Information - Visit Notopedia's Bulletin Board

For Latest Sarkari Jobs - Visit Notopedia's Sarkari Jobs Section

For access to more than 20,000 Colleges - Visit Notopedia's College Section

For School Studies and Exams Preparation across 14 Boards - Visit Notopedia's School Section

For Comprehensive Preparation of Sarkari Job Exams - Visit Notopedia's Sarkari Exams Section

For Comprehensive Preparation of Competitive Exams - Visit Notopedia's College Entrance Exams Section