Mumbai ranks 2nd, Delhi 3rd globally in annual housing price rise

Mumbai and Delhi are at the second and third positions, respectively, among 44 cities globally in annual price rise of prime residential properties during the June quarter, Knight Frank said in a report.

The annual price growth across the 44 cities globally slowed to 2.6 per cent in the second quarter of the 2024 calendar year, from 4.1 per cent in the preceding quarter, real estate consultant Knight Frank report said.

Manila ranked first with a 26 per cent annual rise during the quarter.

Mumbai, with an annual price rise of 13 per cent in prime residences, ranked second, up from its 6th rank in the year-ago period.

New Delhi, which recorded a rise of 10.6 per cent year-on-year in prime residential property prices, made a stupendous jump in rankings from 26th a year earlier to third during the quarter under review.

Bengaluru saw a 3.7 per cent increase in annual price rise. Its ranking remained same at 15th.

"Being the largest residential markets of the country, the strong price