Indian city, Mumbai was ranked 47th on the "City Wealth Index" among 314 cities in the world, as per the Knight Frank's Wealth Report-2018, released on 7th March 2018.
The Knight Frank's Wealth Report-2018 also stated that the Mumbai city ranked 16th among the top 20 expensive global cities in the world where $1 US million can buy only 92 square metres of area.
The Knight Frank's Wealth Report-2018 also claimed that Delhi, Chennai and Bengaluru featured among the top 100 expensive global cities on the list.
According to the Knight Frank's Wealth Report-2018, Mumbai and Delhi would be among the top 10 markets to witness the highest addition in households earning more than $250,000 annually between 2017 and 2022.
The Knight Frank's Wealth Report-2018 further stated that India would be the third-largest contributor in Asia with respect to the wealthy population after China and Japan.
Knight Frank's Wealth Report-2018, the "City Wealth Index" is drawn from 4 major indicators which include Wealth, Investments, Lifestyle and Future. Its Wealth Report mainly looks at global prime property trends and wealth and examines the prime and super-prime property markets
The Knight Frank Wealth Report is a publication produced by residential estate agency, Knight Frank. It is an independent global property consultancy, headquartered in London, England. Its global network comprises of 370 offices in 55 countries with more than 14,000 employees as (in 2018).