Delhi among world’s cheapest cities for property despite lowest salaries
NEW DELHI: Delhi is among the world’s most affordable major cities for buying property and everyday living, but its residents also earn some of the lowest salaries compared with other global cities, according to a new report by Deutsche Bank.The report, ‘Mapping the World’s Prices 2026’, published on July 13, compares 69 cities across the world on the basis of prices, salaries and quality of life.One of its key findings is that Delhi is the world’s cheapest major city for a romantic date. A ‘cheap date’ in the national capital costs an average of USD 103 (around Rs 9,920), compared with USD 475 (around Rs 45,750) in Geneva, the most expensive city on the list, PTI reported. Property prices in Delhi remain relatively low compared with other major global cities. According to the report, the average price of a city-centre property is around Rs 2.37 lakh per square metre, placing Delhi 65th in the global rankings for city-centre property prices.The report said property prices in Delhi have fallen 9.8 per cent in dollar terms over the past decade, although they have recovered 15.7 per cent since 2019.However, while housing is relatively affordable, salaries remain among the lowest in the survey.Delhi ranked 66th out of 69 cities for net monthly salaries, with the average worker earning USD 538 (around Rs 51,800) per month after taxes. This is about 10 per cent of the average salary in New York, according to the report.The report also observed that Delhi’s average monthly salary has declined from USD 633 in 2012 to USD 538 in 2026. Salaries have fallen 17.7 per cent in dollar terms over the past decade and 3.3 per cent since 2019.In comparison, Zurich topped the salary rankings with an average monthly net salary of USD 8,363 (around Rs 8.05 lakh).Despite lower salaries, many daily expenses in Delhi remain among the cheapest globally.A regular cappuccino costs around Rs 231, placing Delhi among the 10 cheapest cities for coffee. Renting a three-bedroom apartment in the city centre costs about around Rs 65,970 per month.However, despite its affordability, Delhi did not feature among the top 50 cities in the report’s quality-of-life rankings, which assess factors such as purchasing power, safety, healthcare, cost of living, housing affordability, commuting time, pollution and climate.
