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Updated February 7th, 2024 at 14:33 IST

List of Top Cities With Highest Home Price Rise in Asia-Pacific

Knight Frank report: Bengaluru registered a price growth of 7.1 per cent YoY in the second half of 2023.

Digital Desk
Real Estate
Bengaluru registered a price growth of 7.1 per cent YoY in the second half of 2023 | Image:Pexels
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BengaluruReal estate consultant Knight Frank has released its latest report on annual price growth across Asia-Pacific residential markets during the second half of 2023, placing Bengaluru and Mumbai in the list of top 10 markets.

In its latest report ‘Asia-Pacific Residential Review Index for H2 2023’, Bengaluru and Mumbai have been ranked 8th and 9th respectively. 

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The consultant, in a statement, highlighted that 21 out of 25 Asia-Pacific (APAC) cities have seen a positive annual price growth, placing Singapore on the top spot on the list the best-performing Asia-Pacic markets, with 13.7 per cent year-on-year (YoY) growth, followed by Perth (12.8 per cent) and Brisbane (12.1 per cent). 

Tech Capital, Bengaluru, has registered a price growth of 7.1 per cent YoY in the second half of 2023 whereas Mumbai witnessing a YoY growth of 7 per cent. 

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Meanwhile, Delhi-NCR claiming the 11th spot, saw a price growth of 6 per cent YoY in the period. Other cities including Sydney and Manila also feature in the list. 

Many cities including Hong Kong (-6.8 per cent), Seoul (-5.5 per cent), Shenzen (-3.6 per cent) and Guangzhou (-3 per cent) have registered a decline in growth.

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Media reports quoted an official from Knight Frank India, as saying that last year, despite the increase in mortgage rates and property prices, the demand for residential property in major Indian cities surged to its highest level in a decade.

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Published February 7th, 2024 at 14:33 IST

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