Delhi ranks high in luxury realty pricing

The NCR has ranked 10th globally in price movement of luxury housing properties, with rates rising by 4.4 percent annually during the second quarter of 2019, stated the Prime Global Cities Index report by property consultant Knight Frank. Bengaluru, with a price rise of 2.8 percent and Mumbai at 0.8 percent increase clocked 15th and 30th position, respectively, in a list of 46 cities, globally. However, Delhi slipped three places in the overall ranking in the second quarter of 2019 from the 7th position in the first quarter of 2019 to 10th position in the second quarter. The report ranked New Delhi as the 10th fastest growing prime market in the world. 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. Berlin continues to lead the index, however, its rate of annual growth has slowed from 14.1 percent in March 2019 to 12.7 percent in June 2019. Frankfurt with 12 percent price rise, stood second and Moscow slipped to third rank in the second quarter of 2019.