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SSC CGL Current Affairs-Topics
Global Property Price Index 2024: Mumbai Ranks 2nd Delhi 3rd
|
Mumbai on 2nd rank leads the Prime Global Cities Index with a 13% annual price increase, while New Delhi on 3rd and Bangalore maintain 15th position respectively. |
Indian Cities' Performance in Knight Frank’s Prime Global Cities Index
- Mumbai ranks 2nd globally with 13% annual price increase
- New Delhi jumps to 3rd position with 10.6% price growth
- Bengaluru maintains 15th rank with 3.7% price rise
- Indian cities show strong performance compared to global average
- Ranks comparison between 44 cities globally.
- Some cities (Madrid, Dubai, New Zealand) experiencing growth slowdown
Global Overview and Top Performers
- Manila tops the index with 26% annual price increase
- Los Angeles (4th), Miami (5th), and Nairobi (6th) follow Indian cities
- Overall global price growth slows to 2.6% across 44 markets
- European cities show momentum, led by Stockholm
- Dubai experiences slight moderation after 124% increase since 2020
Factors Influencing Price Growth
- Premium segment driving sales growth in Indian markets
- Increasing affluence and demand for lifestyle-oriented properties
- Strong economic outlook sustaining market momentum
- Central banks' decisions on interest rates crucial for future growth
- Lack of further stimulus from rate cuts affecting global market pricing
Top 10 Cities List of Global Property Price Index 2024
|
Rank |
City |
Annual Price Growth % |
|
1 |
Manila (Philippines) |
26.0 |
|
2 |
Mumbai (India) |
13.0 |
|
3 |
Delhi (India) |
10.6 |
|
4 |
Los Angeles (US) |
8.9 |
|
5 |
Miami (US) |
7.1 |
|
6 |
Nairobi (Kenya) |
6.6 |
|
7 |
Madrid (Spain) |
6.4 |
|
8 |
Lisbon (Portugal) |
4.7 |
|
9 |
Seoul (South Korea) |
4.6 |
|
10 |
San Francisco (US) |
4.5 |
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