New Delhi: As India remains a resilient economy amid global headwinds, Mumbai and Delhi experienced robust annual growth in prime residential property prices among the top 44 cities worldwide in the first quarter (Q1 2024) this year.
According to the latest data from the Knight Frank 'Prime Global Cities Index Q1 2024’, with an 11.5 per cent (year-on-year) surge, Mumbai witnessed the highest jump among Indian cities in the January-March quarter.
Delhi saw 10.5 per cent annual house price growth. At the top of the table is Manila with 26.2 per cent annual growth, followed by Tokyo at 12.5 per cent. “Indian cities are experiencing strong growth, with Mumbai at 11.5 per cent and Delhi at 10.5 per cent,” the report mentioned.
With annual GDP growth running at over 8 per cent, strong economic growth across India has boosted house prices in the main cities, particularly in Delhi and Mumbai, according to the report.