India Ranks 51st In The World For Yearly Growth In Housing Costs
India Ranks 51st In The World For Yearly Growth In Housing Costs
India classes 51st in annual appreciation in housing prices with a 2.1% rise in rates during the October-December quarter of 2021.
Knight Frank's latest research report named 'Global House Price Index – Q4 2021 said India has ascended five spots to the 51st rank in Q4 of 2021 against the 56th rank in Q4 of 2020.
Global House Price Index traces the movement in mainstream residential prices across 56 countries and territories worldwide using authorized statistics.
The index tracks nominal as well as real price growth in local currencies. The rankings on the price movement have been accounted for on the nominal price growth change.
The average annual price change across 56 countries and territories had been recorded at 10.3℅.
However, prices lowered by 1.9% in Q2 of 2020, 2.4% in Q3, 3.6% in Q4, 1.6% in Q1 of 2021, and 0.5% in Q2 of 2021.
After a gap of five quarters, the housing rates increased by 0.1% in Q3 of 2021 and by 2.1% in Q4 of 2021.
With revived willingness of buyers toward homeownership, competitive house prices, and low home loan interest rate, Baijal expects the market acceleration to continue.
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