Mumbai enters top 10 global luxury housing markets, Tokyo leads
Mumbai luxury home prices rose 6.2 percent annually, placing it eighth in Knight Frank's global prime cities index, with Tokyo topping the list.
Which cities are seeing the fastest growth in luxury and premium home prices? Knight Frank's latest report has the answer. The company has released its Prime Global Cities Index, giving data for the second quarter of 2026. The index covers 46 major real estate cities around the world.
According to the report, luxury and premium residential property prices in Mumbai rose a strong 6.2 percent year on year. This growth helped Mumbai enter the top 10 in the list of 46 major global real estate cities. Mumbai is ranked eighth on the list, strengthening its position in the top 10.
Mumbai's quarterly growth rate was also strong, with prices rising 1.7 percent during the quarter, double the global average. According to the report, prices are rising strongly in 32 of the 46 cities surveyed. The trend was also seen in other Indian cities. Bengaluru ranked 12th with 4.5 percent annual growth, while Delhi ranked 17th with 3.9 percent growth.
Tokyo topped the overall global list, recording 50.7 percent annual growth. Manila was second with 14.6 percent, followed by Dubai (10.9 percent), Singapore (9.5 percent) and Nairobi (8.5 percent). Christchurch was sixth with 6.9 percent growth, Seoul seventh with 6.4 percent, Vienna ninth with 5.9 percent and San Francisco tenth with 5.0 percent.
Knight Frank India chairman Shishir Baijal said that with a slowdown in real estate markets worldwide, Mumbai's entry into the top 10 is significant. He said Mumbai's market is tied to long-term wealth creation and strong demand in real estate terms, which gives it considerable importance. He also said that besides local supply, factors such as foreign exchange and interest rates can affect the performance of cities in the global luxury housing market.
