New Delhi has jumped to the sixth position among 44 cities globally in price appreciation of luxury homes with the national capital seeing an average 6.7% increase in rates during the latest December quarter, according to Knight Frank. Mumbai prime residential prices also grew a strong 6.1% year-on-year (YoY) in Q4 2024, securing the seventh spot in the overall rankings.

Bengaluru saw an impressive jump from the 27th rank in Q4 2023, to 13th in Q4 2024, and recorded 4.1% annual increase in prices. 

The Prime Global Cities Index, a valuation-based tracking system for prime residential prices, evaluates price changes in luxury properties across 44 cities globally. Seoul topped the list with a remarkable 18.4% surge, followed by Manila (17.9%), Dubai (16.9%), Tokyo (12.7%), and Nairobi (8.3%). New Delhi’s rise marks it as a key player in the global luxury market.

A Snapshot of Global Rankings:

Seoul – 18.4% increase (Rank 1)

Manila – 17.9% increase (Rank 2)

Dubai – 16.9% increase (Rank 3)

Tokyo – 12.7% increase (Rank 4)

Nairobi – 8.3% increase (Rank 5)

New Delhi – 6.7% increase (Rank 6)

Mumbai – 6.1% increase (Rank 7)

Madrid – 5.5% increase (Rank 8)

Perth – 5.3% increase (Rank 9)

Lisbon – 5.3% increase (Rank 10)