Bengaluru, Mumbai, Delhi among top 15 global cities for prime residential price growth: Knight Frank report

Mumbai, Bengaluru, and Delhi have been ranked among the top 15 global cities for prime residential price growth in Q1 2025, according to a report released by Knight Frank, a real estate consultancy firm.

India real estate update: Mumbai, Bengaluru, and Delhi have been ranked among the top 15 global cities for prime residential price growth in Q1 2025. (Picture for representational purposes only)(Mehul R Thakkar)

In the Prime Global Cities Index Q1 2025, Bengaluru was fourth, Mumbai fifth, and Delhi was ranked 15th, considering the annual growth of prime residential prices. The Index tracked price movements across prime residential markets in 45 global cities, the report said.

According to the report, Bengaluru led the Indian cities with an 8.3% annual rise in prime residential prices, followed by Mumbai at 7.6% and Delhi at 3.9%. This consistent momentum reflects strong end-user demand, especially growing preference for higher value housing among domestic buyers.

The report said the average annual price growth across all 45 cities stood at 2.8%, below the long-run average of 5.3% but still marking the eighth consecutive quarter of positive growth.

Knight Frank noted that the Prime Global Cities Index is a valuation-based index tracking the movement of prime residential prices using local currency data from its global research network.

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In Q1 2025, 72% of the cities tracked in the index recorded positive annual growth, with cities in the Asia-Pacific and Middle East regions continuing to lead the global recovery.

“The strong performance of Indian cities on the global index reflects the evolving appetite for premium homes, underpinned by economic stability, lifestyle aspirations, and increased global attention on Indian urban centres. Cities like Bengaluru and Mumbai are benefitting from a deeper end-user market, robust infrastructure growth, and rising affluence,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.

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“As interest rates soften and buyer sentiment strengthens further, we expect prime residential demand to remain resilient and forward-looking,” Baijal added.

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Seoul, Dubai, and Tokyo top the list

According to the report, Seoul topped the list with an 18.4% annual rise in prime residential prices, followed by Dubai at over 16%, and Tokyo at 15.5%.

Meanwhile, major Western markets such as London and Toronto experienced minor declines. Knight Frank expects future performance to depend on monetary policy clarity, particularly regarding interest rate movements in key global economies.

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