New Delhi is world`s 10th fastest growing residential market |
According to a recent report, Indian capital New Delhi has emerged as the 10th fastest-growing residential market in the world with prime residential prices in the city witnessing a growth of 4.4% in the second quarter of 2019. The report tracks the movement in luxury residential prices across 46 cities globally. According to the report `Prime Global Cities Index Q2 2019`, luxury residential prices in Bengaluru increased by 2.8%, while Mumbai saw a marginal growth of 0.8%. Both the cities were ranked 15th and 30th on the list, respectively. "New Delhi, by virtue of limited supply of luxury properties, saw a rise in weighted average of capital values, which were recorded at 33,511 per sq ft, recording an annual rise of 4.4%," the report said. However, New Delhi`s position has slipped three places in the overall ranking from 7th position in the first quarter to the 10th position in the second quarter this year. Bengaluru improved its ranking to 15th from 20th in the first three months of this year. Berlin topped the ranking, registering a growth of 12.7% in the second quarter, against the year-ago period, followed by Frankfurt, which grew by 12%.
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