CHENNAI: In its latest report Global Residential Cities Index Q2 2023, Knight Frank, a leading international property consultancy cited that Chennai ranked 39th globally on the global index. The city witnessed a price appreciation of 2.5% YoY in the residential asset class during Q2 2023.
However same time last year the city stood at a rank of 107th globally. The report also noted that residential price growth across the 107 world cities has slowed in Q2 2023, falling to 1.7% YoY from 11.7% YoY in Q2 2022.
This is recorded to be lower than that experienced in the first wave of the pandemic, when growth reached a low of 2.9% in Q2 2019.