Bangalore Ranks 8th in Knight Frank Annual Housing Price Index across APAC

According to the report of Knight Frank, Bengaluru and Mumbai have been ranked 8th and 9th, respectively, in terms of annual price growth across Asia-Pacific residential markets during the second half of 2023.

After witnessing the price growth of 7.1 per cent YoY in the second half of 2023, Bengaluru was ranked 8th on the Asia-Pacific Residential Review and Mumbai ranked 9th, witnessing a YoY growth of 7 per cent, while Delhi-NCR was ranked 11th with a price growth of 6 per cent YoY in the period. 

In their latest report of Asia-Pacific Residential Review Index for H2 2023, real estate consultant Knight Frank reveals that, Bengaluru and Mumbai have found a place in the top 10 best-performing Asia-Pacific residential markets in terms of annual price growth.

In a statement, it said that, 21 out of 25 Asia-Pacific (APAC) cities have recorded positive annual price growth, with Singapore ranked as the best-performing Asia-Pacific market with 13.7 per cent year-on-year (YoY) growth.

Chairman & Managing Director, Knight Frank India, Shishir Baijal said, “In 2023, residential property demand in India's major cities has surged to its highest level in a decade, despite the increase in mortgage rates and property prices. With significant tailwinds, such as the expected reduction in interest rates and relatively strong economic growth, residential demand is anticipated to sustain momentum in 2024".