New Delhi, March 5 Delhi has jumped to 18th spot among 100 cities globally in terms of annual price growth in the luxury housing segment last year, according to Knight Frank.
Global property consultant Knight Frank’s ‘The Wealth Report 2025’ showed that the Prime International Residential Index (PIRI 100) value is projected to rise 3.6 per cent in 2024. Of the 100 luxury residential markets tracked, 80 recorded positive or flat annual price growth.
Among Indian cities, Delhi is ranked 18th, a significant jump due to a 6.7 per cent year-on-year (YoY) rise in luxury residential prices. Mumbai is ranked 21st, while Bengaluru is ranked 40th.
“Delhi moved up from 37th in 2023 to 18th in 2024, while Bengaluru moved up from 59th to 40th. Mumbai dropped thirteen places to 21st from 2023,” Knight Frank said.
Seoul leads the ranking with annual growth of 18.4 per cent, while Manila slips to second place with 17.9 per cent (leading in 2023).
Dubai (16.9 per cent), Riyadh (16 per cent) and Tokyo (12.1 per cent) complete the top five.
Shishir Baijal, chairman and managing director, Knight Frank India, said, “Delhi and Bengaluru have demonstrated remarkable growth in the global luxury residential market, both jumping 19 ranks to reach 18th and 40th position respectively in Knight Frank’s PIRI 100 for 2024.”
This growth underlines the growing attractiveness of these cities in the high-end real estate sector, supported by expanding infrastructure, economic growth and rising demand for luxury properties, he said.
