Luxury housing rates rose 4.4% in Delhi; The national capital occupies the tenth place worldwide in price increase
New Delhi, August 20 () The national capital of India ranked tenth worldwide in price movement of luxury home properties, with rates that increased 4.4 percent annually during the second quarter of 2019, according to the real estate consultant Knight Frank.
Bengaluru with a price increase of 2.8 percent and Mumbai with a 0.8 percent increase were in the 15th and 30th position, respectively, on a list of 46 cities worldwide, the consultant said in his report Global Index of Prime Cities.
Delhi fell three places in the overall ranking in the second quarter of 2019 from 7th place in the first quarter of 2019 to 10th place in the second quarter of 2019, it said in a statement.
Knight Frank ranked New Delhi as the tenth fastest growing main market in the world with an annual growth in capital value of 4.4% in the second quarter of 2019.
New Delhi, by virtue of the limited supply of luxury properties, experienced an increase in the weighted average of the capital values that were recorded at Rs 33,511 per square foot, registering an annual increase of 4.4 percent, the statement said.
The index highlighted that luxury residential prices registered an average increase of 1.4 percent in the period between the year and June 2019.
Berlin continues to lead the index, however, its annual growth rate has slowed from 14.1 percent in March 2019 to 12.7 percent in June 2019.
Frankfurt, with a price increase of 12 percent, came in second place. Moscow fell to third rank in the second quarter of 2019.
Up to 35 of 46 cities registered price growth in the year until June 2019. Among the eleven that saw prices fall, Istanbul (-9.9 percent) and Vancouver (-13.6 percent) were the weakest markets. Bengaluru, which was ranked 15th compared to 20th place in the first quarter of 2019, recorded a weighted average capital value of the main markets at approximately Rs 19,000 per square foot. per square foot MJH SHW MKJ