According to a survey released on Monday, Bengaluru has risen from 27th place in Q4 2023 to 13th place on the list, while New Delhi has been rated sixth and Mumbai seventh on the “Prime Global Cities Index Q4 2024.”

According to a survey published by the real estate consulting company Knight Frank, the average yearly costs of luxury or premium residential residences in the three Indian cities increased significantly in the last quarter of this year.

In the midst of a robust economy, wealthy purchasers seeking a lifestyle improvement were the main drivers of New Delhi’s remarkable 6.7% price gain during the previous 12 months. According to the report, the city rose from 16th place in Q4 2023 to 6th place in Q4 2024.

In Q4 2024, Mumbai’s top residential prices climbed by a robust 6.1% year-over-year (YoY), placing it seventh nationwide.

With a 4.1% yearly price increase, Bengaluru saw a remarkable rise from 27th place in Q4 2023 to 13th place in Q4 2024.

With an annual price increase of 18.4%, Seoul took first place in the survey. The luxury market in the city proved remarkably resilient in the face of political unpredictability. Manila is ranked second in the ranking with a YoY growth rate of 17.9%.

The 12-month period ending December 2024 saw a 3.2% increase in the global prime home price index across all 44 markets. According to the survey, 34 out of 44 cities had positive prime global residential index scores at that time.

“The robust increase in prime prices reflects the surge in demand observed in this residential segment across Indian markets.” This category could probably see price levels continuing to rise in the near future as purchasers prioritize lifestyle enhancements more and more, supported by the country’s steady economic outlook and optimistic market attitude, according to Shishir Baijal, CMD of Knight Frank India.

The “Prime Global Cities Index” is a valuation-based index that tracks changes in the values of premier real estate in 44 different locations across the globe. Nominal prices in local currency are tracked by the index.