Knight Frank report reveals Bengaluru's position in global housing price appreciation index

Bengaluru has notably soared 55 positions, securing the 22nd spot

Bengaluru witnessed a remarkable 5.3 per cent surge in residential prices

A recent report by Knight Frank reveals that Mumbai and Bengaluru have significantly climbed the ranks in the global housing price appreciation index.

Bengaluru has notably soared 55 positions, securing the 22nd spot, while Mumbai has surged from the 95th to the 19th position. The report, titled ‘Global Residential Cities Index Q2 2023,’ assessed the inflation in housing prices across various global cities from April to June in 2023.

According to the analysis, Bengaluru, the capital of Karnataka, witnessed a remarkable 5.3 per cent surge in residential prices compared to the same period last year, solidifying its status as the second highest-ranked Indian city after Mumbai.

The overall study indicated that residential prices in 107 cities worldwide experienced a slowdown in growth during Q2 2023, with a year-on-year decline from 11.7 per cent to 1.7 per cent.

Mumbai, on the other hand, experienced a notable 6 per cent increase year-on-year, propelling it 76 positions higher to claim the 19th place globally. Additionally, the national capital, New Delhi, secured the 25th position on the index, with a 4.5 per cent appreciation in residential prices.