According to real estate consultant Knight Frank, Bengaluru has slipped four positions to rank fortieth globally in the annual price appreciation of luxury residential properties,
In its 'Prime Global Cities Index Q1 2021' report, Knight Frank mentioned that New Delhi and Mumbai, too, slipped one spot each to rank at 32nd and 36th, respectively. In the last report, Delhi was at 31st position, while Mumbai ranked 35th and Bengaluru 36th.
Bengaluru witnessed a fall of 2.7% year-on-year (YoY) in prime residential prices during JanuaryMarch 2021, leading to a fall in its ranking on the global list. In New Delhi, the prices fell marginally by 0.2% YoY to an average price of Rs 33,572 per sq ft in Q1 2021. Mumbai's prime residential market registered a decline of 1.5% YoY in the January-March quarter with an average price of Rs 63,758 per sq ft. Prime residential property is defined as the most desirable and most expensive property in a given location, generally defined as the top 5% of each market by value.
The Prime Global Cities Index is a valuation-based index tracking the movement in prime residential prices in local currency across 45+ cities worldwide. Shenzhen ranked 1st with 18.9% annual change for the period Q1 2020 - Q1 2021. New York was the weakest performing market and ranked 46th with a fall of 5.8% in prices annually.
RBI allows re-opening of one-time restructuring individuals and MSMEs till Sept 30
Sikander Kalal Khan Gets Around Being The Most Successful Businessman In The Present Times
GDP Forecast: India's GDP may grow at 11 pc in FY22: Asian Dev Bank