Bengaluru Slips Four Spots In Global Prime Residential Index
IT hub of the country- Bengaluru, slipped four spots to reach the 40th rank in the global prime residential index in the first quarter of 2021. According to a recent report released by leading property consultant Knight Frank, Bengaluru witnessed a decline of 2.7 per cent year-on-year in the prime residential prices, which resulted in the drop in the global position. In the fourth quarter of 2020, the city was at the 36th rank in Knight frank's prime global cities index report.
According to Knight Frank, the premium micro-markets of the city registered a drop of 0.6 per cent in the annual capital value change to an average prove of Rs 19,2000 per square feet.