entrepreneur.com-This Indian City Ranks 6th Globally in Luxury Housing Growth
India's luxury housing market is witnessing a surge, with New Delhi making a leap to the sixth position in the global rankings for prime residential price growth, according to Knight Frank's 'Prime Global Cities Index Q4 2024' report. The index, which tracks high-end residential property prices across 44 cities worldwide, revealed a 6.7 per cent rise in luxury home prices in the Indian capital over the past year. This growth is attributed to a confluence of factors, including increased demand from affluent buyers, economic resilience and a growing preference for ultra-luxurious living spaces.
In the previous year's December quarter, New Delhi ranked 16th in the global index. However, a surge in demand from high-net-worth individuals looking for exclusive properties has propelled the city into the top ten. Experts point to India's robust economic performance as a key driver of this surge, with well-endowed buyers investing heavily in real estate as a stable and appreciating asset.
