Mumbai’s premium housing market continued to see strong price growth in the April-June quarter, with prime residential values rising 6.2% year-on-year in Q2 2026, according to Knight Frank’s Prime Global Cities Index. The increase was more than twice the 2.6% average growth recorded across the 46 cities tracked by the index.
The performance placed Mumbai eighth in the global ranking. Prime residential prices in the city also increased 1.7% quarter-on-quarter during Q2, indicating continued activity in the high-end segment.
Mumbai was the highest-ranked Indian city in the index. Bengaluru stood at 12th globally, recording a 4.5% annual increase, while New Delhi ranked 17th with 3.9% growth. All three Indian cities featured among the top 20 markets globally.
Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India, said the growth reflected demand at the top end of Mumbai’s residential market.
“Location, quality, and differentiated residential offerings continue to support values,” Baijal said, adding that limited supply remained an important factor supporting prime residential assets in the city.
Global luxury housing market
The global prime residential market recorded annual growth of 2.6% in the 12 months to Q2 2026, up from 2% in the previous quarter. Of the 46 cities tracked, 32 recorded annual price growth, while 15 saw prices decline. On a quarterly basis, 28 markets registered growth, 17 declined and two remained unchanged.
Tokyo topped the global ranking, with prime residential prices rising 50.7% year-on-year and 12.6% quarter-on-quarter. Manila followed with 14.6% annual growth, while Dubai and Singapore recorded gains of 10.9% and 9.5%, respectively.
Seoul ranked seventh with a 6.4% annual increase, placing it just ahead of Mumbai. Vienna and San Francisco followed Mumbai in the top 10, with growth of 5.9% and 5%, respectively.
At the lower end of the index, Beijing recorded an 8.4% annual decline in prime residential prices, followed by Toronto at 7.3% and Wellington at 5.4%. London recorded a 3.6% decline over the year.
Knight Frank’s Global Head of Research Liam Bailey said the latest results pointed to a modest improvement in global luxury housing conditions, while local supply, currency movements, wealth creation and interest rates would continue to influence individual markets.
The index tracks the prime residential segment, so its findings reflect Mumbai’s high-end housing market and do not represent price movements across the city’s entire residential market.
Source: Hindustan Times
