Bengaluru’s luxury residential market became more expensive in 2025, with ₹10 crore now buying 3,843 square feet of luxury housing in 2025, down by almost 3.5% from 3,983 square feet a year earlier, according to Knight Frank’s Wealth Report 2026.
Among major Indian cities tracked in the report, Bengaluru recorded the sharpest annual drop in space available for ₹10 crore, signalling the fastest pace of luxury home price appreciation.
Knight Frank said the reduction in area available across Indian cities came despite rupee depreciation, as luxury residential prices in Bengaluru, Mumbai and Delhi rose faster than currency gains. “The rupee depreciated of about 5.4%, amounting to more Rupees per USD however luxury property price per square foot (sq ft) in all three cities rose faster (Mumbai at about 8.7%, Delhi at 6.9% and Bengaluru at 9.4%) than that the foreign exchange gain, so the net sq m purchasable for ₹10 crore still fell as price appreciation of these cities outpaced the currency tailwind,” the report said.
Mumbai remained India’s costliest luxury residential market, where the same money can now buy 1,033 sq ft, compared with 1,066 sq ft in 2024. In Delhi, the same amount can purchase 2,207 sq ft, down from 2,239 sq ft last year. In Hyderabad, homebuyers can purchase 5,360 sq ft of home compared to 5,414 in 2024, it said.
Bengaluru luxury home prices rise 9.4% in 2025
The Wealth Report 2026 revealed the findings of Knight Frank’s Prime International Residential Index (PIRI 100), which covers price performance across 100 global luxury housing markets. It reported an average rise of 3.2% YoY in luxury residential prices in 2025, outperforming mainstream housing markets for the second consecutive year.
Bengaluru’s luxury residential prices rose 9.4% year-on-year in 2025, making it one of the fastest-growing luxury housing markets globally, according to Knight Frank’s Wealth Report 2026.
The city climbed 32 places in PIRI 100, moving from 40th rank in 2024 to 8th in 2025.
Mumbai also posted strong gains, with luxury residential prices increasing 8.7% year-on-year amid robust demand for premium and super-prime homes, including record new-build sales above ₹20 crore. The city improved its ranking from 21st in 2024 to 10th in 2025.
Meanwhile, Delhi recorded a 6.9% rise in luxury home prices, helping it move up one place from 18th to 17th position globally.
Among global markets, Tokyo led with a sharp 58.5% rise in luxury residential prices, while China’s Guangzhou was among the weakest performers with a 12.2% decline. Regionally, the Middle East topped growth charts with an average increase of 9.4%, driven largely by Dubai’s 25.1% surge.
Latin America and the Caribbean followed with 4.7% growth, while Asia-Pacific and Europe recorded comparable gains of 3.6% and 3.3%, respectively. North America was the only region in negative territory, posting an average decline of 0.9% amid continued weakness in Canadian housing markets.
