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Luxury residential property bucked the trend of falling prices in 2023 and rose 3.1%, as double-digit gains in the likes of Manila and Dubai offset falls in New York and London, Knight Frank said on... -February 27, 2024 at 07:01 pm EST - MarketScreener
12% of Indian UHNWIs are planning to buy a new home in 2024; On an average an Indian UHNWI owns 2.57 homes while 28% have rented out their second homes in 2023
Mumbai has emerged as one of the world's top 10 luxury real estate markets, thanks to sustained demand for upscale properties and a growing economy. The city now ranks 8th globally, up from 37th position a year ago, with a 10% year-on-year increase in luxury residential prices. Delhi and Bengaluru also showed positive momentum, improving their ranks. Monaco remains the most expensive market, while Manila leads the rankings with a 26% price growth.
One-quarter of the ultrawealthy people in the U.S. plan to buy a home this year, and they're increasingly venturing to the luxury real estate market overseas.
Manila (26%) tops Knight Frank's 100-market list, followed by Dubai & Bahamas (both 15%)