India slips to 56th rank in Global Home Price Index

India has moved down 13 spots within the newest international dwelling value index to complete final at 56th rank within the quarter ending December 2020. Against its forty third rank a yr in the past, India noticed a decline of 3.6% year-on-year (YoY) in dwelling costs, resulting in the drop in international place, confirmed Knight Frank’s Global House Price Index. India was the weakest-performing nation in the course of the fourth quarter of 2020, with a decline of three.6% in dwelling costs, adopted by Morocco with a drop of three.3%.

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According to the report, markets like New Zealand (19%), Russia (14%), the US (10%), Canada and UK (each 9%) have recorded accelerated development in rankings within the final three months as a consequence of a development in housing demand.

The index tracks the motion in mainstream residential costs throughout 56 international locations and territories worldwide utilizing official statistics. In the 12-month share change for the interval This autumn 2019 – This autumn 2020, Turkey continues to steer the annual rankings with costs up by 30.3% on-year, adopted by New Zealand at 18.6% and Slovakia at 16.0%.

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