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India Slips 12 Spots To 55th Position Globally In Home Price Movement: Report

India has slipped 12 spots in Knight Frank’s dwelling worth index

India moved down 12 spots in Knight Frank’s world dwelling worth index to 55th rank in first quarter of 2021 towards forty third rank in first quarter of 2020 with a decline of 1.6 per cent year-on-year in dwelling costs. The nation gained a spot in comparison with final quarter (fourth quarter of 2020) the place it ranked final globally amongst 56 nations tracked by the index.

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With respect to six-month (third quarter of 2020 to first quarter of 2021) and three-month (fourth quarter of 2020 to first quarter of 2021) adjustments, residential costs in India witnessed a development of 0.6 per cent and 1.4 per cent respectively. The report highlighted that the United States witnessed the best annual worth development price since 2005 with a 13.2 per cent enhance year-on-year.

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In the 12-month share change for first quarter of 2020 to Q1 2021, Turkey continues to guide the annual rankings with costs up by 32 per cent year-on-year adopted by New Zealand at 22.1 per cent and Luxembourg with 16.6 per cent. Turkey continued to guide the index for fifth consecutive quarter whereas Spain was the weakest-performing territory within the first quarter of 2021 the place dwelling costs fell by 1.8 per cent adopted by India with minus 1.6 per cent.

Mainstream residential costs averaged throughout 56 nations and territories in Q1 2021 grew by 7.3 per cent which information the quickest development in costs since fourth quarter of 2006.

According to the report, 7 per cent (4 nations) of the surveyed world nations and territories registered a decline in yearly worth development whereas 13 of the 56 nations and territories skilled a year-on-year double-digit development in costs until first quarter of 2021.

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