Mumbai was ranked 33rd with 1.3 per cent fall in annual price. The city also saw a decline of 0.7 per cent in prices compared to the June quarter.(Abhijit Bhatlekar/ Mint file photo)
Mumbai was ranked 33rd with 1.3 per cent fall in annual price. The city also saw a decline of 0.7 per cent in prices compared to the June quarter.(Abhijit Bhatlekar/ Mint file photo)

Delhi ranks 27th, Mumbai 33rd globally as fastest-growing prime residential market: Report

“Delhi’s prime residential market performed better than Mumbai and Bengaluru. Globally, the city ranked 27th with a 0.2 per cent annual price change for the period Q3 2019 – Q3 2020; with a decline of 0.1 per cent price change in Q3 2020 compared to the previous quarter,” Knight Frank said.
By Press Trust of India| Posted by: Harshit Sabarwal | New Delhi
PUBLISHED ON NOV 24, 2020 02:23 PM IST

India’s national capital has been ranked 27th, while Mumbai and Bengaluru were placed at the 33th and 34th positions respectively in a global index that measures annual price appreciation of luxury residential properties, according to a Knight Frank report.

Auckland in the Australasia region topped the index with 12.9 per cent price appreciation in the July-September quarter, compared to the same period last year.

Manila and Shenzhen were at 2nd and 3rd positions respectively with 10.2 per cent and 8.9 per cent price rise.

The property consultant on Tuesday released its Prime Global Cities Index Q3 2020 report.

In the Q2 (April-June) report, Bengaluru and Delhi were at 26th and 27th positions, while Mumbai was ranked at the 32nd position.

“Delhi’s prime residential market performed better than Mumbai and Bengaluru. Globally, the city ranked 27th with a 0.2 per cent annual price change for the period Q3 2019 – Q3 2020; with a decline of 0.1 per cent price change in Q3 2020 compared to the previous quarter,” Knight Frank said.

Mumbai was ranked 33rd with 1.3 per cent fall in annual price. The city also saw a decline of 0.7 per cent in prices compared to the June quarter.

Bengaluru was ranked at the 34th place with a decline of 1.4 per cent in price year-on-year. The city registered a price decline of 1.5 per cent from the June quarter.

“With the modest price correction in the Indian real estate sector, post-lockdown, the luxury market has seen significant traction,” Knight Frank India CMD Shishir Baijal said.

Baijal further said “buyers are responding favourably to residential purchase across segments including luxury as sale prices have corrected in the last few quarters making investment in property attractive”.

The report tracks the movement in prime prices across 45 cities.

“A year ago, the index rose at a rate of 1.1 per cent per annum, climbing to 1.6 per cent by the end of September 2020,” the consultant said.

SHARE THIS ARTICLE ON
Topics
Close
Globally, about 26% of the ultra-wealthy also plan on purchasing a home in 2021, up against 20% of 2020. The pandemic-induced residential mini-boom is expected to continue through 2021. (Representative Image)(AFP)
Globally, about 26% of the ultra-wealthy also plan on purchasing a home in 2021, up against 20% of 2020. The pandemic-induced residential mini-boom is expected to continue through 2021. (Representative Image)(AFP)

One out of five Indian UHNWIs planning to buy a new home in 2021: Report

ANI
PUBLISHED ON FEB 27, 2021 03:05 PM IST
The preferred investment locations for ultra-wealthy Indians are largely concentrated in domestic market followed by preferences in international markets of the United States, the United Kingdom, Singapore and the United Arab Emirates.
Close
FILE - In this Aug. 13, 2018, file photo a house is pictured for sale in Christchurch, New Zealand. New Zealand's government on Thursday, Feb. 25, 2021 made the first of several promised moves to rein in skyrocketing house prices by ordering the nation's Reserve Bank to consider the impact on housing when making decisions. (AP Photo/Mark Baker, File)(AP)
FILE - In this Aug. 13, 2018, file photo a house is pictured for sale in Christchurch, New Zealand. New Zealand's government on Thursday, Feb. 25, 2021 made the first of several promised moves to rein in skyrocketing house prices by ordering the nation's Reserve Bank to consider the impact on housing when making decisions. (AP Photo/Mark Baker, File)(AP)

Real estate in New Zealand feels Covid heat as housing prices skyrocket

PTI, Wellington
PUBLISHED ON FEB 25, 2021 07:57 AM IST
Opposing the expectations, prices have risen by more than 19% over the past year, putting them out of reach for many people wanting to buy their first home.
Close
In view of the lockdown, MahaRera had first extended validity of real estate projects by 3 months on April 2, and then extended it by another 3 months on May 18.(HT FILE)
In view of the lockdown, MahaRera had first extended validity of real estate projects by 3 months on April 2, and then extended it by another 3 months on May 18.(HT FILE)

Realty sector witnessing K-shaped recovery: Report

PTI, Mumbai
PUBLISHED ON FEB 22, 2021 05:09 PM IST
The smaller sized real estate companies' woes will “weigh heavily” on the sector as a whole, domestic rating agency Icra said in its report.
Close
In view of the lockdown, MahaRera had first extended validity of real estate projects by 3 months on April 2, and then extended it by another 3 months on May 18.(HT FILE)
In view of the lockdown, MahaRera had first extended validity of real estate projects by 3 months on April 2, and then extended it by another 3 months on May 18.(HT FILE)

NRIs eye southern realty for investment: Report

PTI
PUBLISHED ON FEB 16, 2021 11:03 PM IST
The maximum search or demand comes from those NRIs living in the US, followed by the UAE and Britain, said the report by Commonfloor, a Quikr platform that offers home-seekers, sellers and realty professionals an online ecosystem.
Close
Singapore’s economy is projected to rebound as the city keeps coronavirus infections at bay and rolls out vaccinations.(Unsplash)
Singapore’s economy is projected to rebound as the city keeps coronavirus infections at bay and rolls out vaccinations.(Unsplash)

Singapore home sales exceed two-year high as curbs may loom

Bloomberg
PUBLISHED ON FEB 15, 2021 11:50 AM IST
  • Singapore’s property market has made a rapid recovery after the pandemic sent the economy into its worst recession, fueling speculation that authorities could intervene to calm the sector. Government ministers warned last month that they don’t want the market to run ahead of economic fundamentals.
Close
Registration for two housing projects of Ansal API Ltd in Sushant Golf City, Lucknow has been cancelled.(Source: Sushant Golf City website)
Registration for two housing projects of Ansal API Ltd in Sushant Golf City, Lucknow has been cancelled.(Source: Sushant Golf City website)

2 Ansal API projects in Sushant Golf City, Lucknow cancelled by UPRERA

By HT Correspondent | Edited by Abhinav Sahay, Lucknow
PUBLISHED ON FEB 12, 2021 11:04 AM IST
  • Action was taken based on site visits and a large number of complaints related to non-possession, non-refund, violation of terms and conditions of the sales contract/allotment letter by the builder.
Close
A general view of a government housing complex in Hong Kong. (Anthony Wallace / AFP)
A general view of a government housing complex in Hong Kong. (Anthony Wallace / AFP)

Century Real Estate sells over 100 plots in 10 days at Century Greens

ANI, Bengaluru
PUBLISHED ON FEB 11, 2021 10:48 PM IST
  • Century Greens comprises a state-of-the-art 10,000 sq. ft. clubhouse, located at the heart of the development that provides a grand experience of landscaped greens, indoor and outdoor amenities with easy access from every plot.
Close
Rates in existing commercial areas and upcoming commercial areas were hiked.(Sanjeev Verma/HT PHOTO)
Rates in existing commercial areas and upcoming commercial areas were hiked.(Sanjeev Verma/HT PHOTO)

RLDA to lease land parcels in city for commercial development

PTI, Chennai
PUBLISHED ON FEB 11, 2021 10:42 PM IST
RLDA Vice Chairman Ved Prakash Dudeja was quoted in the release as saying that Chennai has emerged as a real estate hotspot due to the growth of the IT/ITes sector, infrastructural development and conducive policy landscape over the past few years.
Close
Representational Image. (HT archive)
Representational Image. (HT archive)

New DDA policy to regulate development in green belt villages on Delhi periphery

By Risha Chitlangia
UPDATED ON FEB 10, 2021 11:40 AM IST
Currently, no new construction, either residential or commercial, is allowed in the 47 rural villages located on Delhi’s periphery such as Dhansa, Mitraon, and Kapashera
Close
The value of single-family homes, known locally as villas, rose 2% in the richest and largest of the seven sheikhdoms that make up the United Arab Emirates, real estate consultancy Core said in a report.
The value of single-family homes, known locally as villas, rose 2% in the richest and largest of the seven sheikhdoms that make up the United Arab Emirates, real estate consultancy Core said in a report.

Abu Dhabi villa prices climb for first time in five years

Bloomberg
PUBLISHED ON FEB 09, 2021 02:33 PM IST
Rental rates continued to decline for both villas and apartments as the pandemic forced companies to cut jobs. Residency permits in the UAE, where expatriates make up the majority of the population, are usually tied to employment and many residents who lose their jobs leave the country.
Close
Representational Image. (File photo)
Representational Image. (File photo)

DDA gets 15k applications for 1,354 flats on sale; draw of lots on March 3

By HT Correspondent | Edited by Smriti Sinha
PUBLISHED ON FEB 08, 2021 12:24 PM IST
The DDA has so far received 4,147 applications along with payment for its 1,011 HIG and MIG category flats in Dwarka and Jasola
Close
In Delhi, properties are classified in eight categories from 'A' to 'H', with 'A' class properties being the posh areas and the least developed areas fall into 'H' category.(HT File Photo)
In Delhi, properties are classified in eight categories from 'A' to 'H', with 'A' class properties being the posh areas and the least developed areas fall into 'H' category.(HT File Photo)

Want to buy new property in Delhi? Here is good news for you

By hindustantimes.com | Edited by Shivani, New Delhi
PUBLISHED ON FEB 06, 2021 02:28 PM IST
The existing rate of land in 'A' category is 7.74 lakh per square metre, After the revised circle rate this will go down to 6.19 lakh per square metre, as per PTI report. In 'H' category, the circle rate will be reduced from 23,280 to 18,624 per square meter.
Close
The rising sun seen over a construction site on a foggy morning at Pragati Maidan, New Delhi. (Arvind Yadav/ Hindustan Times)
The rising sun seen over a construction site on a foggy morning at Pragati Maidan, New Delhi. (Arvind Yadav/ Hindustan Times)

Delhi govt cuts circle rates of properties by 20 per cent

PTI, New Delhi
PUBLISHED ON FEB 05, 2021 08:14 PM IST
Delhi govt cuts circle rates of properties by 20 per cent
Close
A man rides past buildings under construction in Mumbai. (AP Photo)
A man rides past buildings under construction in Mumbai. (AP Photo)

Govt to spend 8k cr to develop 8 cities in 8 states

PTI, New Delhi
UPDATED ON FEB 02, 2021 10:51 PM IST
  • The 15th Finance Commission, set up by the government, has recommended an outlay of 8,000 crore for developing new eight cities in eight states.
Close
Developers said construction work had not picked up projects due to liquidity crisis.(HT file photo. Representative image)
Developers said construction work had not picked up projects due to liquidity crisis.(HT file photo. Representative image)

Union budget: Real estate keen on infra status, tax incentives for home buyers

ANI, New Delhi
UPDATED ON JAN 31, 2021 06:07 AM IST
Apart from the real estate sector suffering a sharp dip in sales due to Covid-19, there was also exodus of migrant labourers from cities which impacted execution of projects.
Close
SHARE
Story Saved
OPEN APP