• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Mumbai Clocks 2nd Highest Prime Property Price Rise On Global Index In April-June

OMMCOM NEWS by OMMCOM NEWS
August 23, 2024
in Business
global index

Mumbai: The financial capital recorded a significant increase on the international index in the second quarter this year — ranking second in terms of annual price growth as a reflection of the surge in residential demand in the city, especially for prime properties, a report showed on Friday.

Mumbai, with a price rise of 13 per cent (year-on-year) in prime residences, recorded the second highest (YoY) growth in prime residential prices in Q2, pushing it up the ranking table to second position from its sixth rank in Q2 2023, according to data by Knight Frank.

New Delhi, which recorded a rise of 10.6 per cent YoY in prime residential property prices, made a stupendous jump in rankings going from 26th in Q2 2023 to third in Q2 2024. Bengaluru (3.7 per cent) maintained status quo on rank 15th in Q2 2023 and Q2 2024.

“The premium segment has been the primary driver of sales growth across the Indian market, and this is reflected in the price growth seen during Q2 2024. The increasing affluence of the wealthy and their need for lifestyle-oriented properties has fuelled the prime residential market,” said Shishir Baijal, Chairman and Managing Director at Knight Frank India.

The ‘Prime Global Cities Index Q2 2024’ is a valuation-based index tracking the movement of prime residential prices across 44 cities worldwide. The index tracks nominal prices in local currency.

Across the 44 cities surveyed, annual price growth slowed from 4.1 per cent in Q1 to 2.6 per cent in Q2 2024, remaining below the long-term average of 5.3 per cent. The chart was topped by Manila which led with a 26 per cent annual rise in Q2.

The rise in global prime residential price index was recorded at 2.6 per cent across the 44 markets in the 12-month period ending June 2024.

“We expect this momentum to sustain in 2024, as the economic outlook continues to remain strong and keeps sentiments buoyant,” said Baijal.

According to Liam Bailey, Knight Frank’s Global Head of Research, the biggest influence on future price growth lies in the hands of central banks and their confidence to cut rates further over the next 12 months.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

Pesco-Vegetarian Diet May Help Reduce Mortality In Older Adults: Study

Next Post

Centre Steps Up Tribal Outreach Under Rs 24,000 Crore PM-JANMAN Scheme

Related Posts

Income Tax Bill 2025
Business

Govt Withdraws Income Tax Bill 2025 From Lok Sabha, New Version To Be Tabled On Monday

August 8, 2025
Indian stock markets
Business

Indian Stock Market Ends Lower Amid US Tariff Jitters, Sensex Declines 765 Points

August 8, 2025
Business

SBI Clocks 12.5 Pc Rise In Q1 Net Profit At Rs 19,160 Crore

August 8, 2025
Business

50 Pc Tariffs By US Bad Policy Move, India Must Continue To Protect Its Farmers: SBI Report

August 8, 2025
Business

India’s Income Roadmap: Gujarat Emerges Frontrunner; MP Improves As Southern, Western States Consolidate Earnings Dominance

August 7, 2025
Business

US Tariff Hike To Impact Only 4.8 Per Cent Of India’s Total Exports

August 7, 2025
Next Post

Centre Steps Up Tribal Outreach Under Rs 24,000 Crore PM-JANMAN Scheme

flood

Centre Releases Rs 40 Crore In Advance For Relief Ops In Flood-Hit Tripura

Singapore Tightens Surveillance Measures To Prevent Mpox

khimji
TPCODL
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.