Research by eXp Realty India has revealed which global cities have put in the strongest performance when it comes to the rate of appreciation seen across the real estate market on an annual basis, with Mumbai ranking firmly within the top 15 best performers.
eXp Realty analysed annual growth in property values across 30 global cities, with the figures showing that Mumbai sits at number 12 on the global stage.
The average value of a property in Mumbai has increased by 4.6% over the last year, a respectable rate of growth and enough to place the city mid-table overall.
At 1.5%, the annual rate of growth across Delhi hasn’t been as robust as Mumbai and, as a result, the city sits at number 20 in eXp Realty’s rankings.
Krakow has proven to be the global hotspot when it comes to growth in real estate values over the last year. The city has seen the average value of a property increase by 24.7% when compared to this time last year.
Dubai ranks second, with real estate values up by 19.4% year on year, whilst Madrid completes the top three with growth of 18.9%.
Warsaw (+14.2%), Thessaloniki (+11%), Barcelona (+10.8%), Abu Dhabi (+10%), Porto (+8.6%), Athens (+7.5%) and Montreal (+6%) also rank within the top 10.
Other cities to have seen notable rates of annual growth include Lisbon (+4.7%, Tel-Aviv (+4.2%) and Manchester (+3.3%).
Real estate market performance has been more muted across Los Angeles (+1.9%), Sydney (+1.6%), Milan (+1.6%), Rome (+1.5%), Jerusalem (+1.2%) and Hamburg (+0.3%).
Seven of the major global real estate hotspots analysed by eXp Realty have seen property values decline over the last year.
London has seen the most marginal decline at -0.5%, whilst the largest reductions have been seen across Berlin (-6.2%) and Paris (-5.5%).
