<p class="bodytext">India's national capital has been ranked 27th, while Mumbai and Bengaluru were placed at the 33th and 34th positions respectively in a global index that measures annual price appreciation of luxury residential properties, according to a Knight Frank report.</p>.<p class="bodytext">Auckland in the Australasia region topped the index with 12.9 per cent price appreciation in the July-September quarter, compared to the same period last year.</p>.<p class="bodytext">Manila and Shenzhen were at 2nd and 3rd positions respectively with 10.2 per cent and 8.9 per cent price rise.</p>.<p class="bodytext">The property consultant on Tuesday released its Prime Global Cities Index Q3 2020 report.</p>.<p class="bodytext">In the Q2 (April-June) report, Bengaluru and Delhi were at 26th and 27th positions, while Mumbai was ranked at the 32nd position.</p>.<p class="bodytext">"Delhi's prime residential market performed better than Mumbai and Bengaluru. Globally, the city ranked 27th with a 0.2 per cent annual price change for the period Q3 2019 – Q3 2020; with a decline of 0.1 per cent price change in Q3 2020 compared to the previous quarter," Knight Frank said.</p>.<p class="bodytext">Mumbai was ranked 33rd with 1.3 per cent fall in annual price. The city also saw a decline of 0.7 per cent in prices compared to the June quarter.</p>.<p class="bodytext">"With the modest price correction in the Indian real estate sector, post-lockdown, the luxury market has seen significant traction," Knight Frank India CMD Shishir Baijal said.</p>.<p class="bodytext">Baijal further said "buyers are responding favourably to residential purchase across segments including luxury as sale prices have corrected in the last few quarters making investment in property attractive".</p>.<p class="bodytext">The report tracks the movement in prime prices across 45 cities.</p>.<p class="bodytext">"A year ago, the index rose at a rate of 1.1 per cent per annum, climbing to 1.6 per cent by the end of September 2020," the consultant said.</p>
<p class="bodytext">India's national capital has been ranked 27th, while Mumbai and Bengaluru were placed at the 33th and 34th positions respectively in a global index that measures annual price appreciation of luxury residential properties, according to a Knight Frank report.</p>.<p class="bodytext">Auckland in the Australasia region topped the index with 12.9 per cent price appreciation in the July-September quarter, compared to the same period last year.</p>.<p class="bodytext">Manila and Shenzhen were at 2nd and 3rd positions respectively with 10.2 per cent and 8.9 per cent price rise.</p>.<p class="bodytext">The property consultant on Tuesday released its Prime Global Cities Index Q3 2020 report.</p>.<p class="bodytext">In the Q2 (April-June) report, Bengaluru and Delhi were at 26th and 27th positions, while Mumbai was ranked at the 32nd position.</p>.<p class="bodytext">"Delhi's prime residential market performed better than Mumbai and Bengaluru. Globally, the city ranked 27th with a 0.2 per cent annual price change for the period Q3 2019 – Q3 2020; with a decline of 0.1 per cent price change in Q3 2020 compared to the previous quarter," Knight Frank said.</p>.<p class="bodytext">Mumbai was ranked 33rd with 1.3 per cent fall in annual price. The city also saw a decline of 0.7 per cent in prices compared to the June quarter.</p>.<p class="bodytext">"With the modest price correction in the Indian real estate sector, post-lockdown, the luxury market has seen significant traction," Knight Frank India CMD Shishir Baijal said.</p>.<p class="bodytext">Baijal further said "buyers are responding favourably to residential purchase across segments including luxury as sale prices have corrected in the last few quarters making investment in property attractive".</p>.<p class="bodytext">The report tracks the movement in prime prices across 45 cities.</p>.<p class="bodytext">"A year ago, the index rose at a rate of 1.1 per cent per annum, climbing to 1.6 per cent by the end of September 2020," the consultant said.</p>