Key Contact

    • Executive Director - Marketing & Corporate communication T: +91 22 6745 1986 M: +91 98195 99888

New Delhi prime residential values grows 4.4% y-o-y; ranks 10th fastest growing market in the world: Knight Frank Prime Global Cities Index (Q2 2019)

22 August 2019

International Property Consultant Knight Frank in its recent report Prime Global Cities Index ranks New Delhi as the 10th fastest growing prime market in the world with an annual capital value growth of 4.4% in Q2 2019. The report tracks the movement in luxury residential prices across 46 cities globally. The index highlights that luxury residential prices have registered an average increase 1.4% in the year to June 2019 period. Bengaluru (2.8%) and Mumbai (0.8%) were ranked 15th and 30th on the list respectively.

Berlin continues to lead the index, however, its rate of annual growth has slowed from 14.1% in March 2019 to 12.7% in June 2019. Frankfurt, by comparison, has seen its annual price growth increase from 9.6% to 12.0% over the same period and managed to secure second rank replacing Moscow. Moscow slipped to third rank in Q2 2019.76% (35 out of 46 cities) registered price growth in the year to June 2019. Of the eleven that saw prices decline, Istanbul (-9.9%) and Vancouver (-13.6%) were the weakest markets.

New Delhi, by virtue of limited supply of luxury properties saw a rise in weighted average of capital values which were recorded at INR 33,511 per sq ft recording an annual rise of 4.4%. New Delhi has slipped three places in the overall ranking in Q2 2019 from 7th position in Q1 2019 to 10th position in Q2 2019. While Bengaluru, which featured at the 15th rank of the Prime Global Cities Index as compared to 20th rank in Q1 2019. Bengaluru recorded a weighted average capital value of prime markets at approximately INR 19,000 per sq. ft. recording an annual increase of 2.8%. Mumbai features at the 30th rank with a mere 0.8% 12-monthly change, recording a weighted average capital value for prime properties at INR 64,764 per sq. ft.

KNIGHT FRANK PRIME GLOBAL CITIES INDEX Q2 2019
Ranked by annual % change

 

Rank

City

World Region

12-month

% change

3-month

% change

1

Berlin

Europe

12.7%

0.0%

2

Frankfurt

Europe

12.0%

0.0%

3

Moscow

Russia & CIS

9.5%

1.8%

4

Manila

Asia

6.2%

0.8%

5

Geneva

Europe

6.0%

1.7%

6

Madrid

Europe

5.2%

3.9%

7

Paris

Europe

5.0%

-0.7%

8

Zurich

Europe

4.5%

1.3%

9

Beijing

Asia

4.5%

1.3%

10

Delhi

Asia

4.4%

0.0%

11

Edinburgh

Europe

4.3%

0.5%

12

Jakarta

Asia

4.1%

2.8%

13

Toronto

North America

3.8%

2.8%

14

Monaco

Europe

3.0%

3.4%

15

Bengaluru

Asia

2.8%

0.9%

16

Taipei

Asia

2.8%

3.2%

17

Guangzhou

Asia

2.7%

3.4%

18

Sydney

Australasia

2.5%

2.0%

19

Tokyo

Asia

2.3%

-2.6%

20

Brisbane

Australasia

2.2%

-0.7%

30

Mumbai

Asia

0.8%

0.2%

Source: Knight Frank Research