{"id":1293,"date":"2023-08-25T08:31:11","date_gmt":"2023-08-25T08:31:11","guid":{"rendered":"https:\/\/www.homebazaar.com\/news\/?p=1293"},"modified":"2023-08-25T08:44:01","modified_gmt":"2023-08-25T08:44:01","slug":"mumbai-to-lead-highest-change-in-prime-residential-prices-in-2024","status":"publish","type":"post","link":"https:\/\/www.homebazaar.com\/news\/mumbai-to-lead-highest-change-in-prime-residential-prices-in-2024\/","title":{"rendered":"Mumbai To Lead Highest Change In Prime Residential Prices In 2024"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In the time frame of April- June 2023, Mumbai witnessed a 5.2 percent year-on-year escalation in prices of prime residential property.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In Q2 2023, Bengaluru secured the 20th position with a 3.6 percent year-on-year rise, while New Delhi positioned itself 26th with a marginal 0.2 percent year-on-year growth. This information is sourced from the Prime Global Cities Index Q2 2023 report\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Dubai sustained its global lead for eight consecutive quarters with an impressive 48.8 percent year-on-year upswing in prime residential property values. The report highlighted an average annual growth rate of 1.5 percent across covered markets, reflecting a positive shift following a recent period of uncertainty.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following Dubai, Tokyo experienced a 26.2 percent surge, Manila recorded 19.9 percent, Miami saw 7.5 percent, and Shanghai registered 6.7 percent growth in the April-June period of 2023.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-1295 size-full\" src=\"https:\/\/www.homebazaar.com\/news\/wp-content\/uploads\/2023\/08\/Rise-In-Prime-Property-Prices-In-2024-min-1-jpg.webp\" alt=\"Mumbai To Lead Highest Change In Prime Residential Prices In 2024 - Rise In Prime Property Prices In 2024\" width=\"732\" height=\"375\" srcset=\"https:\/\/www.homebazaar.com\/news\/wp-content\/uploads\/2023\/08\/Rise-In-Prime-Property-Prices-In-2024-min-1-jpg.webp 732w, https:\/\/www.homebazaar.com\/news\/wp-content\/uploads\/2023\/08\/Rise-In-Prime-Property-Prices-In-2024-min-1-300x154.webp 300w\" sizes=\"(max-width: 732px) 100vw, 732px\" \/><\/p>\n<p><span style=\"font-weight: 400\">The Prime Global Cities Index, a valuation-based benchmark, tracks the fluctuations in prime residential prices across 46 cities worldwide. The index measures nominal prices in local currencies.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to Knight Frank&#8217;s analysis, both <a href=\"https:\/\/www.homebazaar.com\/news\/growing-demand-for-luxury-housing-in-mumbai\/\">Mumbai<\/a> &amp; Auckland are anticipated to have the highest changes in the prime residential prices. These cities are expected to undergo a 5 percent increase in the year 2024.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The main drivers behind this surge are the improving GDP figures, relative value of the city, and investments in infrastructure, all contributing to elevated prices in Mumbai&#8217;s luxury housing market.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the time frame of April- June 2023, Mumbai witnessed a 5.2 percent year-on-year escalation in prices of prime residential property.\u00a0 In Q2 2023, Bengaluru secured the 20th position with a 3.6 percent year-on-year rise, while New Delhi positioned itself 26th with a marginal 0.2 percent year-on-year growth. This information is sourced from the Prime [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[138,242],"class_list":["post-1293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mumbai","tag-mumbai-real-estate-news","tag-mumbai-realty"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/comments?post=1293"}],"version-history":[{"count":0,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media\/1296"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media?parent=1293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/categories?post=1293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/tags?post=1293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}