Question
Which Indian city witnessed the highest increase in
average annual prices for high-end residential properties in the first quarter of 2023, according to the 'Prime Global Cities Index' report by Knight Frank India?Solution
According to Real estate consultant Knight Frank India in its report 'Prime Global Cities Index Q1 2023' Mumbai, Bengaluru and New Delhi have registered an increase in average annual prices in January-March 2023. Mumbai ranked 6th among 46 cities globally in terms of annual price growth of high-end residential properties with appreciation of 5.5 per cent. Mumbai moved up from the 38th rank in Q1 2022 to the 6th rank in Q1 2023 based on the annual growth in high-end or prime properties. Bengaluru and New Delhi also witnessed an upward movement in index ranking to 16th and 22nd ranks from their previous 37th and 39th ranks, respectively, in the first quarter of 2022 calendar year.
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