Bengaluru, the bustling capital of Karnataka, has witnessed an astounding surge in its ranking on the Global Housing Price Appreciation Index. Soaring from the 55th position to an impressive 22nd spot, the city has marked a remarkable trajectory in its housing market dynamics.
This significant leap is corroborated by the latest report from the renowned real estate consultancy firm Knight Frank. According to their findings in the Global Residential Cities Index Q3 2023, Bengaluru, along with the metropolitan city of Mumbai, has showcased an unprecedented upsurge, elevating the Indian real estate landscape to global prominence. Mumbai, previously ranked 95th, now stands tall at the 19th position, further solidifying India’s presence on the international real estate stage.
The report attributes Bengaluru’s remarkable performance to a notable 5.3 percent surge in housing prices during the second quarter of the year, spanning from April to June. This escalation is a testament to the city’s burgeoning economic vibrancy and robust real estate market, reflecting the sustained growth and attractiveness of the region to both domestic and international investors.
The findings serve as a testament to the resiliency and attractiveness of Bengaluru’s housing sector, emphasizing its status as a key player in the global real estate landscape. As the city continues to foster a conducive environment for economic growth and development, this remarkable surge in housing prices reflects the confidence of investors and the growing demand for residential properties in one of India’s most dynamic and vibrant urban hubs.
