Manila Tops Global Property Price Index; Mumbai Ranks 2nd, New Delhi 3rd

                Mumbai has secured the 2nd position in Knight Frank’s Prime Global Cities Index for Q2 2024, with an impressive 13% annual increase in real estate prices. New Delhi follows closely, 
ranking 3rd with a 10.6% rise, while Bengaluru saw a more modest 3.7% growth. Globally, Manila has topped the index with a significant 26% surge in property prices. The Prime Global 
Cities Index, which tracks prime residential prices across 44 cities worldwide, highlights the growing demand for luxury homes in India. According to Knight Frank’s report, the premium 
segment has been the main driver of this growth, fueled by the increasing affluence and demand for lifestyle-oriented properties among India's wealthy. This trend is expected to continue 
as the economic outlook remains strong, keeping market sentiments positive.

Shishir Baijal, Chairman and Managing Director at Knight Frank India, noted, "The increasing affluence of the wealthy and their need for lifestyle-oriented properties has fueled the prime 
residential market. We expect this momentum to sustain in 2024, as the economic outlook continues to remain strong and keeps sentiments buoyant."
Source 'HT Real Estate News'