Question
According to Knight Frank’s Prime Global Cities
Index,which city bagged the top spot in prime residential prices among global cities for the quarter ended September 2023?Solution
According to Knight Frank’s Prime Global Cities Index, Mumbai recorded the fourth highest year-on-year growth in prime residential prices among global cities for the quarter ended September 2023. The Prime Global Cities Index is a valuation-based index tracking the movement of prime residential prices across 46 cities worldwide. New Delhi and Bengaluru too recorded an upward movement in their index rankings. NCR moved from 36th rank a year ago to 10th in September 2023. Manila claimed the top spot followed by Dubai on the 2nd spot and Shanghai on the 3rd. San Francisco was the weakest market with a decline of 9.7 percent on a year-on-year basis.
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