According to Knight Frank, Mumbai and Bengaluru are two of the top five residential markets in Asia Pacific in terms of yearly price growth, with rates increasing by 7% in each city. The second half of 2022 will see yearly price increase in Mumbai and Bengaluru ranking among the top five best performing Asia-Pacific residential markets, according to real estate consultant Knight Frank's Asia- Pacific Residential Review Index.
Up to 14 out of 23 Asia-Pacific (APAC) cities have seen positive yearly price rise, with Metro Manila leading the pack with a year-over-year (YoY) growth rate of 24%.
Tokyo ranked third with a 9% increase in residential costs, while Singapore came in second with a 9.3% increase in price.
"Mumbai and Bengaluru tied for fourth place on the Asia-Pacific Residential Review Index with a 7% YoY (year over year) price growth in H2 2022. Delhi, with price growth of 6.8% YoY in H2 2022, was among the top 10 best performing APAC markets "added the consultant.
In the following 12 months, prices in the residential markets of Bengaluru, Mumbai, and Delhi are anticipated to climb considerably.
Residential price increases in Bengaluru are predicted to increase by 3% to 5%. Residential price increases in Mumbai and Delhi are anticipated to be in the region of 3–4% and 2–3%, respectively.
