You are here:HomeIndustries

Mumbai 16th costliest global city for luxury homes: Report

Mumbai 16th costliest global city for luxury homes: Report

close

Mumbai is the 16th most expensive city in the world in terms of owning a prime residential property with a price tag of around Rs 57,000 per sq ft, real estate consultancy Knight Frank has said in a report.

As per the Knight Frank's prime international residential index, the financial capital is also among the few global cities that saw realty prices going up in 2012.

"We have seen a price increase of 0.5 per cent in prime residential properties in Mumbai in 2012 at Rs 57,800 per sq ft," Samantak Das, research and advisory services director at Knight Frank India, told reporters here today.

The London-based consultancy expects 1-2 per cent growth in prices in the luxury segment in the next two years, he said.

According to the 'Wealth Report 2013', Mumbai's prime properties are located in the southern part of the island city like Colaba, Cuffe Parade and Malabar Hills, among others.

Mr Das pointed out that National Capital Region or NCR (Delhi and its surrounding urban areas) may witness less than 5 per cent rise in prices of luxury homes in 2013.

Talking about the buying trend in these properties in the country, Mr Das said Knight Frank is receiving a large number of enquiries for high-end units, but actual transactions are slow in this space as of now.

As per the report, the top five costliest cities in terms of prime residential property are Monaco, Hong Kong, London, Geneva and Paris (in that order). 

Story first published on: March 15, 2013 19:57 (IST)

Tags: Mumbai, Real estate, Luxury homes, Knight Frank

MORE FROM NDTV

FROM THE WEB

MORE FROM THE WEB
MORE FROM NDTV

For Profit Update,
Follow NDTV on Pinterest

Post your comments:

Social Sharing

Advertisement

Advertisement

 

More From NDTV

More From the WEB

  • BSE
  • NSE
Company Price (Rs.) CHG %
BIOCON 487.40 7.22%
ADANIPORTS 207.30 4.56%
YESBANK 432.85 3.83%
MCX 610.95 3.52%
More from Top Gainers »
Don't Miss

Advertisement

Market Data provided by © Accord Fintech.
© Copyright NDTV Convergence Limited 2014. All rights reserved.