Mumbai's prime residential market grew 1.4% in capital values and 1.2% in rents in H1 2026, outperforming the global average amid moderation, driven by redevelopment and infrastructure.
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Mumbai's residential market is undergoing structural transformation through redevelopment and infrastructure development.
Mumbai's prime residential market saw capital values increase by 1.4 percent and rents by 1.2 percent in the first half of 2026, according to the Savills World Cities Prime Residential Index. This growth occurred amid a global moderation in prime residential markets, with average capital values across 30 tracked cities increasing by 0.6% and rents by 1.1%.
Dubai, in contrast, experienced a decline with capital values down 4.5% and rents down 6.7% due to geopolitical shocks and oversupply. Mumbai's average prime residential capital value stands at US$1,130 per sq ft, comparable to Bangkok and Barcelona but below Singapore and Seoul.
Shveta Jain, Managing Director of Residential Services at Savills India, attributed Mumbai's resilience to redevelopment and infrastructure strengthening the market's fundamentals. Buyers are increasingly selective, focusing on asset quality and long-term value. Savills forecasts a broadly stable prime residential market in H2 2026, with Mumbai expected to see 0%-1.9% capital value growth.
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Mumbai's prime residential capital values to grow 0%-1.9% in H2 2026
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