Prices Of Prime Residential Property Rose In The World, Marginally Declining In India.
Key Sentence:
- Knight Frank Prime Global Cities Index up 8.2%
Prime residential property prices have risen worldwide. According to property consultancy firm Knight Frank's Prime Global Cities Index Q2-2021, the top 46 cities in the world recorded an average growth of 8.2 percent. The change was 4.6 percent in the March quarter. However, prime residential property prices in India's top cities have fallen marginally.
So far, the leading property market has been booming due to the epidemic. Now Prime Residential Property has overtaken the primary market. Prime residential property increased annually in the June quarter in 35 cities around the world. Out of which 13 cities have seen double-digit growth.
Prime residential property prices in the country's top cities like Delhi, Mumbai, Bengaluru have declined annually. Excellent residential property is the most sought-after and most expensive property in cities. Which typically includes the top 5 percent of the area's property.
Mumbai also Delhi top the list of top cities in the country. The real estate market has also improved due to rising raw material prices. However, it remains to be seen how long the rally will last. Support can be found if interest rates fall further.
Source from Divyabhashkar