Prime Global Cities Index Q3 2023 has been released by real estate consultant Knight Frank India on 01 November 2023.
Mumbai has got fourth place among 46 cities globally in terms of price rise of luxury homes.
Mumbai was ranked at 22nd place in Q3 2022. So, its rank improved by 18 places.
A rise has been recorded in average annual prices of prime residential or luxury homes in the July-September period in Mumbai, Bengaluru and New Delhi.
The rank of Bengaluru has improved to 17th in Q3 2023 from 27th rank in the third quarter of 2022.
National Capital Region (NCR) moved to 10th rank in July-September of 2023 from 36th rank in the year-ago period.
Manila is in the top spot of ranking with a 21.2% annual rise in prices.
Dubai with an annual growth of 15.9% is in the second place on the ranking. It has been displaced from the top position for the first time in eight quarters.
Shanghai is in the third place with an annual growth of 10.4%. The index tracks nominal prices in local currency.
