A million would not be very far in the world’s most expensive cities, but India’s metros are becoming serious luxury real estate business. Knight Frank’s Wealth Report 2025 released a report stating that prime property prices are increasing all over the globe and Indian cities are ranking high on the list.
Mumbai, Delhi, and Bengaluru: India’s Luxury Hubs
Mumbai costs $1 million (around Rs 8.7 crore) a mere 99 square metres of upmarket residential area. Delhi is cheaper at 208 square metres, and Bengaluru is the most spacious of the three with 370 square metres for the same price.
Globally, Monaco remains the most expensive property market, where $1 million will only fetch 19 square metres, closely followed by Hong Kong (22 sq m) and Singapore (32 sq m).
Global Real Estate Trends
The Prime International Residential Index (PIRI 100) tracked a 3.6 per cent increase in prime residential values in 2024. Among the 100 prime residential markets monitored, 80 experienced positive or neutral price growth. Seoul leads the way with a year-on-year growth of 18.4 per cent, followed by Manila (17.9 per cent), Dubai (16.9 per cent), Riyadh (16 per cent), and Tokyo (12.1 per cent).
Delhi and Bengaluru Rise in World Rankings
Delhi jumped from 37th position in 2023 to 18th position in 2024 on the strength of a 6.7 per cent year-on-year growth in luxury property prices. Mumbai is ranked 21st, and Bengaluru moved up from 59th to 40th position. Appreciation in the value of the US currency has also added to the relative affordability of these cities that are becoming popular among foreign investors.
Highest price appreciation among the best properties in Delhi and Bengaluru was at 13 per cent and 14 per cent, respectively, and hence they were attractive to international buyers. Due to the appreciation of the US dollar, more space could be bought there than in 2014,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.
India’s Luxury Real Estate: A Rising Investment Destination
As global luxury residential markets change, Indian cities are establishing themselves as serious players. With increased demand, enhanced infrastructure, and advantageous currency plays, Mumbai, Delhi, and Bengaluru are steadily drawing domestic as well as global investors to the high-end housing market.
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