Indian cities Bengaluru, Mumbai, and Delhi have been ranked among the top 15 global cities for prime residential price growth in the first quarter of 2025, according to the latest Prime Global Cities Index by real estate consultancy Knight Frank, as reported by Hindustan Times.
The quarterly index, which monitors changes in prime residential prices across 45 global markets, placed Bengaluru at No. 4, Mumbai at No. 5, and Delhi at No. 15. The ranking is based on annual price appreciation in the high-end residential segment.
According to the report, Bengaluru posted an 8.3% year-over-year increase in prime residential prices, leading among Indian cities. Mumbai followed with a 7.6% rise, while Delhi recorded a 3.9% gain during the same period. The growth reflects a strong and sustained end-user demand, particularly a growing inclination among domestic buyers for higher-value properties.
“The strong performance of Indian cities on the global index reflects the evolving appetite for premium homes, underpinned by economic stability, lifestyle aspirations, and increased global attention on Indian urban centres,” said Shishir Baijal, chairman and managing director, Knight Frank India. “Cities like Bengaluru and Mumbai are benefitting from a deeper end-user market, robust infrastructure growth, and rising affluence.”
The report also highlighted that 72% of the cities tracked in the index recorded positive annual price growth in Q1 2025. Cities in the Asia-Pacific and Middle East regions continued to lead the global recovery in the prime residential segment.
On a global scale, the average annual price growth across all 45 cities was 2.8%, which remains below the long-term average of 5.3%. However, it marks the eighth consecutive quarter of positive growth, signaling consistent momentum in prime housing markets despite global macroeconomic uncertainties.
Seoul led the global rankings with an 18.4% increase in prime residential prices, followed by Dubai at over 16% and Tokyo at 15.5%. In contrast, some major Western markets such as London and Toronto experienced slight price declines during the same period.
The Prime Global Cities Index is a valuation-based index that tracks the movement of prime residential prices using local currency data collected from Knight Frank’s global research network.
Looking ahead, the report emphasized that the future trajectory of prime residential markets will depend significantly on monetary policy clarity, especially regarding interest rate decisions in key global economies.
“As interest rates soften and buyer sentiment strengthens further, we expect prime residential demand to remain resilient and forward-looking,” Baijal added.