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Luxury home prices in Delhi, Bengaluru & Mumbai record negative growth in Q3 of 2017: Knight Frank Prime Global Cities Index

Luxury home prices in Delhi, Bengaluru & Mumbai record negative growth in Q3 of 2017: Knight Frank Prime Global Cities Index

Mumbai, Nov 14 (UNI) The prices of luxury homes in key Indian metros have declined sharply in September amid a global pattern of weakening prices, revealed the Knight Frank Prime Global Cities Index Q3 for 2017.

The index that tracks the movement in luxury residential prices across 41 international cities, every quarter, rose by 4.2 per cent in the year up to September 2017, however, at least 19 of these cities saw a decline in annual growth.

Delhi saw the biggest drop in rankings as it slipped from the 31st to the 36th position.

Besides Delhi, Bengaluru also recorded sharper negative growth at minus 0.8 per cent, while the prices for luxury homes in Mumbai saw a marginal increase of 0.6 per cent between September 2016 and September 2017, albeit on a declining trend.

Reflecting on the dismal performance, all the three metros featured on the price index slid from their positions in the previous quarter.

UNI JM SS NP2019

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