<p>Bengaluru: Bengaluru ranked seventh in the annual prime residential price growth index for the Asia-Pacific (APAC) region with prime residential prices growing by 4.8 per cent year-on-year in the July to September quarter (Q3) of 2024, according to a report by global property consultancy Knight Frank out on Friday. </p><p>Prime residential prices in the Asia-Pacific region rose for the sixth consecutive quarter at 2.9 per cent YoY in Q3 2024, with 14 out of 23 markets tracked reporting stable or increasing prices.</p><p>Mumbai ranked third, recording a 11.5 per cent YoY increase in luxury property prices in Q3 2024. The city is noted to be the 14th most expensive APAC prime residential market at an average price of $953 per square foot (sf) as of Q3 2024.</p>.Viral video: An ‘engineer’ now begs for a living on the streets of Bengaluru .<p>Delhi ranked fifth on the annual prime residential price growth index for APAC region, reporting a 6.5 per cent YoY increment in luxury property prices. The city ranked as the 19th most expensive market with an average price of $452 per sf during Q3 2024. </p><p>Bengaluru is 22nd on the list. The average price for the prime residential market in the city is recorded at $255 per sf.</p><p>Manila and Tokyo have witnessed an annual price change of 29.2 per cent and 12.8 per cent, respectively, in their prime residential prices, topping the list.</p><p>Meanwhile, prime residential prices in Q3 2024 were highest in Hong Kong at $4,172 per sf, followed by Singapore at $2,861 per sf.</p><p>Momentum in the residential market in India in Q3 recorded the highest quarterly sales of 87,108 units, representing a 5 per cent YoY increase, while the premium end of the market grew by 41 per cent YoY.</p><p>Housing markets in the Asia-Pacific are characterised by high home ownership aspirations amid persistent constraints in housing supply and sustained economic growth.</p><p>India has been cited as the market with the third highest home ownership rate of 87 per cent, behind Singapore at 90 per cent and Vietnam at 88 per cent. </p><p>Singapore, Australia, Japan and Malaysia lead the report’s rankings as APAC’s leading lifestyle and investment hotspots.</p>
<p>Bengaluru: Bengaluru ranked seventh in the annual prime residential price growth index for the Asia-Pacific (APAC) region with prime residential prices growing by 4.8 per cent year-on-year in the July to September quarter (Q3) of 2024, according to a report by global property consultancy Knight Frank out on Friday. </p><p>Prime residential prices in the Asia-Pacific region rose for the sixth consecutive quarter at 2.9 per cent YoY in Q3 2024, with 14 out of 23 markets tracked reporting stable or increasing prices.</p><p>Mumbai ranked third, recording a 11.5 per cent YoY increase in luxury property prices in Q3 2024. The city is noted to be the 14th most expensive APAC prime residential market at an average price of $953 per square foot (sf) as of Q3 2024.</p>.Viral video: An ‘engineer’ now begs for a living on the streets of Bengaluru .<p>Delhi ranked fifth on the annual prime residential price growth index for APAC region, reporting a 6.5 per cent YoY increment in luxury property prices. The city ranked as the 19th most expensive market with an average price of $452 per sf during Q3 2024. </p><p>Bengaluru is 22nd on the list. The average price for the prime residential market in the city is recorded at $255 per sf.</p><p>Manila and Tokyo have witnessed an annual price change of 29.2 per cent and 12.8 per cent, respectively, in their prime residential prices, topping the list.</p><p>Meanwhile, prime residential prices in Q3 2024 were highest in Hong Kong at $4,172 per sf, followed by Singapore at $2,861 per sf.</p><p>Momentum in the residential market in India in Q3 recorded the highest quarterly sales of 87,108 units, representing a 5 per cent YoY increase, while the premium end of the market grew by 41 per cent YoY.</p><p>Housing markets in the Asia-Pacific are characterised by high home ownership aspirations amid persistent constraints in housing supply and sustained economic growth.</p><p>India has been cited as the market with the third highest home ownership rate of 87 per cent, behind Singapore at 90 per cent and Vietnam at 88 per cent. </p><p>Singapore, Australia, Japan and Malaysia lead the report’s rankings as APAC’s leading lifestyle and investment hotspots.</p>