India ranked 54th in the list of 55 countries in the housing price index, prices decreased by 0.5 percent in the June quarter
India has been ranked 54th out of 55 countries in the world in the housing price index. During this period, the prices of residential properties in the country declined by 0.5 per cent year-on-year in the June quarter. This information has been given in the report of Knight Frank.
Earlier, India was ranked 55th in the global housing price index in the first quarter of the current calendar year and is now ranked 54th in the quarter ended June.
Turkey continues to rank first in the annual ranking with a 29.2 percent increase in house prices. New Zealand came second with 25.9 percent growth and the US was third with 18.6 percent growth.
The Global Housing Price Index monitors the prices of residential properties in 55 countries. Home prices in 18 countries increased by more than 10 percent in the second quarter of the current calendar year. India and Spain were the only countries where houses became cheap. House prices in Australia increased by 16.4 percent. This is the highest increase since 2003.
Shishir Baijal, Chairman and Managing Director, Knight Frank India, said that despite the revival being hit by the second wave of COVID-19, the prices of mainstream housing units in India remained almost stagnant with a downward trend. “Demand for homes is expected to improve significantly in the coming quarter due to reduction in COVID-19 cases and immunization drive.”
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