Real Estate News: Mumbai ranks third in Asia Pacific in terms of annual property price hike, know what the prices are

Mumbai Properyty 1732340078

Real Estate News: Mumbai ranks third in the Asia Pacific region in annual price hikes of prime housing properties during the September 2024 quarter. Giving this information, property consultant Knight Frank said that during this period Mumbai witnessed an annual price increase of 11.5 percent. According to the report, Manila witnessed an annual price increase of 29.2 percent and Tokyo 12.8 percent in terms of prime residential properties during the period under review. Knight Frank India said in a statement on Friday, “Mumbai ranks third in the price growth index of prime residential properties for the Asia Pacific region. 

Prices increased by 11.5%

Housing property prices in Mumbai rose 11.5 percent year-on-year in Q3 2024. Mumbai is the 14th most expensive prime residential market in the Asia Pacific region with an average price of US$953 per square foot by Q3 2024. Delhi is ranked fifth and Bengaluru seventh in the annual prime residential price growth index in the Asia Pacific region.

Khan Market in Delhi

Khan Market in the country’s capital Delhi is ranked 22nd in the global list of most expensive retail locations. The annual rent here is US $ 229 (more than Rs 19,000) per square foot. According to Cushman & Wakefield (C&W), Via Monte Napoleone in Milan, Italy has become the world’s most expensive location with an annual rent of US $ 2,047 per square foot. It has also surpassed New York’s Upper 5th Avenue (49th to 60th Street), where the rent is US $ 2,000 per square foot.