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    ‘Quantum India Bengaluru is not just a summit; it is a signal of intent.’-N.S.Boseraju, Minister for Minor Irrigation and Science & Technology, GoK.

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    Myntra Glamstream Kicks Off with a Sneak Peek of “Jordan” by Badshah — India’s First Shoppable Fashion Music Video

    European Union Cheese Campaign Enters Third Year with an Indian Flair

    Air Canada Celebrates Canada Day with Limited-time Fare Discounts for Customers Flying from India

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

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    Barbeque Nation Opens New Outlet at Garuda Mall, Expands Central Bangalore Presence.

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    Air Canada Celebrates Canada Day with Limited-time Fare Discounts for Customers Flying from India

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

    European Leaders Join Forces to Drive Growth and Innovation  

    Boeing Names Stephen Parker as CEO of Defense, Space & Security

    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman Highlights Key Policy Measures to Promote Export-led Growth at Exim Bank’s Trade Conclave

  • National
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    ‘Quantum India Bengaluru is not just a summit; it is a signal of intent.’-N.S.Boseraju, Minister for Minor Irrigation and Science & Technology, GoK.

    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

    Myntra Glamstream Kicks Off with a Sneak Peek of “Jordan” by Badshah — India’s First Shoppable Fashion Music Video

    A THREE-DAY CELEBRATION OF INDIAN CLASSICAL MUSIC FROM 11TH TO 13TH JULY 2025, AT THE SWAMI VIVEKANANDA SABHANGANA, RAMAKRISHNA MATH, BENGALURU.

    European Union Cheese Campaign Enters Third Year with an Indian Flair

    Initial Phase of Bihar SIR Completed

  • Business

    ‘Quantum India Bengaluru is not just a summit; it is a signal of intent.’-N.S.Boseraju, Minister for Minor Irrigation and Science & Technology, GoK.

    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

    Park Hyatt Set to Debut in Vancouver in 2026

  • Health

    Michelin-Starred Chef Shane Osborn Makes India Debut at Le Cirque Signature, The Leela Palace Bengaluru on July 11th & 12th, 2025.

    Barbeque Nation Opens New Outlet at Garuda Mall, Expands Central Bangalore Presence.

    Receiving JCI accreditation is a profound moment for Ramaiah Memorial Hospital and a validation of our relentless pursuit of excellence in patient care,”-Dr. M.R. Jayaram, Chairman, Gokula Education Foundation (Medical).

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    Wow! Momo Launches India’s First Gluten-Free Range of Momos – A Game-Changer for Health Conscious Foodies

  • Technology
    • All
    • Environment
    • Science

    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

    “SEZs can be a bridge between Indian and global aerospace and defence industries via Startup India.”-Piyush Goyal ,Union Minister for Commerce and Industry 

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    AMD Unveils Vision for an Open AI Ecosystem, Detailing New Silicon, Software and Systems at Advancing AI 2025

  • Auto

    Stellantis Pro One announces start of production in the Italian Atessa plant of new versions of the Large Van “Cargo Box” and Recreational Vehicles

    Volvo Cars reports June sales

    Odysse Electric Clocks 344 Units Sold in June, Records 54% Monthly Growth

    DGCA carries out comprehensive surveillance at major airports, including Delhi and Mumbai

  • Sports

    Rescheduling of India’s white-ball Tour of Bangladesh

    BPCL’s Premium Petrol Speed Fuels Neeraj Chopra Classic 2025

    Superstar Kichcha Sudeepa Acquires Bengaluru Racing Team the Indian Racing Festival — Launches ‘Kichcha’s Kings Bengaluru’ to Unite Cinema, Speed, and City Pride

    TCS World 10K Bengaluru Ignites the Spirit of Giving: NGOs, Citizens, and Corporates raise INR 3.83 Crores for Social Good

  • Entertainment

    A New Era in Luxury Weddings – Vogue Wedding Atelier Debuts in India

    GenS Life and Dowith Lit Present ‘Senior Spotlight’: Bengaluru’s Open Mic Celebration for the 55+

    PMJ Jewels Launches PMJ SuperStar Bracelet and ‘Celebrating Daughters’ Campaign

    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

  • Lifestyle
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    Myntra Glamstream Kicks Off with a Sneak Peek of “Jordan” by Badshah — India’s First Shoppable Fashion Music Video

    European Union Cheese Campaign Enters Third Year with an Indian Flair

    Air Canada Celebrates Canada Day with Limited-time Fare Discounts for Customers Flying from India

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Michelin-Starred Chef Shane Osborn Makes India Debut at Le Cirque Signature, The Leela Palace Bengaluru on July 11th & 12th, 2025.

    Barbeque Nation Opens New Outlet at Garuda Mall, Expands Central Bangalore Presence.

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Bengaluru Ranks 59th in top 100 luxury residential markets in the world || Knight Frank Wealth Report 2024

by FWM
February 28, 2024
in Business
0

US$ 1 million can buy 377 sq mtrs in Bengaluru: Knight Frank Wealth Report 2024

 Mumbai, February 28, 2024– According to Knight Frank’s The Wealth Report 2024, the value of Prime International Residential Index (PIRI 100) has increased by 3.1% in 2023 showcasing solid overall gains. Of the 100 luxury residential markets tracked, 80 recorded positive to neutral annual price growth. Manila (26%) leads the rankings while Dubai (16%), last year’s frontrunner slipped one spot. The Bahamas (15%) comes in third place with Algarve and Cape Town (both 12.3%) completing the top five.

Bengaluru ranked 59th on Knight Frank’s PIRI’s index in 2023. The city climbs 4 positions from 63rd in 2022 owing to 2.2% YoY increase in the price value of luxury residential market. Mumbai ranked 8th on the index in 2023 as compared 37th rank in 2022 which is a phenomenal jump of 10% year on year growth in terms of annual luxury residential price rise. This jump has marked a place for Mumbai in the top 10 leading luxury residential markets. Delhi ranked 37th and showcased rise of 4.2% YoY in 2023 as compared to 77th rank in 2022.

 The PIRI 100: Luxury residential markets’ performance, annual price change (2022 – 2023)

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All price changes are in local currency

No. Location Annual % change
1 Manila 26.3
2 Dubai 15.9
3 The Bahamas 15.0
4 Algarve 12.3
5 Cape Town 12.3
6 Athens 12.0
7 Ibiza 12.0
8 Mumbai 10.0
9 Shanghai 8.6
10 Mustique 8.0
37 Delhi 4.2
59 Bengaluru 2.2

Source: Knight Frank – The Wealth Report 2023 (PIRI 100)

Kate Everett-Allen, head of international residential and country research at Knight Frank said: “At the start of 2023, economists were expecting a much weaker outcome across global residential property markets. Stock markets were heading for more pain, inflation was veering out of control and the pandemic-fuelled property boom was set to end in tears as borrowing costs hit 15-year highs in some markets. However, that never happened – we’ve seen a much softer landing in terms of price performance around the world.”

Shishir Baijal, Chairman & Managing Director, Knight Frank India, said, “India’s luxury residential market has shown remarkable growth, as highlighted in Knight Frank’s Wealth Report 2024. Mumbai’s ascent to the 8th rank globally, with a staggering 10% year-on-year increase in luxury residential prices, underscores the city’s enduring appeal. While Mumbai logged into the top 10 league among PIRI 100 cities, Delhi and Bengaluru also demonstrated positive momentum by improving their ranks. As we navigate the complexities of the global market, India’s emergence as a prime destination for luxury real estate investment is undeniable.”

HOW MUCH SPACE CAN US$1 MILLION BUY?

 Monaco continues its reign as the world’s most expensive real estate market where US$ 1 million can get you 16 square metres (sq. mt.) of space, followed by Hong Kong (22 sq. mt.) and Singapore (32 sq. mt.) in 2023. For US$ 1 million, Mumbai offers for purchase 103 sq. mt. of prime residential space, marking a reduction in space purchase of 8.85% YoY compared to 113 sq. mt. in 2022. Comparatively in Delhi, one can purchase 217 sq. mt. which accounts to reduction of 3.98% from 226 sq. mt. in 2022. Bengaluru recorded a 2.12% space reduction from 385 sq. mt. in 2022 to 377 sq. mt. in 2023.

Area (in square meters) purchasable for US$1 million over the last 5 years for Mumbai, Delhi and Bengaluru:

Cities 2019 2020 2021 2022 2023
Mumbai 102 106 108.1 113 103
Delhi 197 202 206.1 226 217
Bengaluru 336 351 357.3 385 377

            Source: Knight Frank Research

 

FWM

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