Mumbai ranks 6th in price rise of expensive residential properties in June quarter, Dubai tops
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New Delhi: Mumbai ranks sixth in terms of price appreciation in the second quarter (April-June) of 2023 for expensive residential properties globally, with a growth of 5.2 per cent. Real estate advisory company Knight Frank India gave this information in a report. Dubai tops the index worldwide with an annual growth of 48.8 percent. Tokyo is on the second place, Manila on the third, Miami on the fourth and Shanghai on the fifth.
In its report ‘Prime Golden Cities Index’, the company said that in the second quarter of 2023, Mumbai was the sixth highest annual growth city in terms of price appreciation of expensive residential properties. It is a valuation-based index that tracks prime residential price movements in 46 cities around the world. The index tracks nominal prices in the local currency.
In the second quarter of the current year, the cost of expensive residential properties in Mumbai increased by 5.2 per cent year-on-year. At the same time, Bengaluru stood at 20th position with an annual growth of 3.6 percent and Delhi at 26th position with a growth of 0.2 percent.
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