INFRASTRUCTURE

India slips by 13 slots to 56th rank in Knight Frank’s Global House Price Index Q4 2020

India has moved down 13 spots in the latest global home price index to finish last at the 56th rank in the quarter ended December 2020. India saw a decline of 3.6 per cent year-on-year (YoY) in home prices against its 43rd rank in Q4 2019, leading to the drop in global position, according to Knight Frank’s Global House Price Index Q4 2020. Indian markets have finished last on the table owing to conditions created by COVID-19.


The Global House Price Index tracks the movement in mainstream residential prices across 56 countries and territories worldwide using official statistics. In the 12-month percentage change for the period Q4 2019 to Q4 2020, Turkey continues to lead the annual rankings with prices up by 30.3 per cent YoY, followed by New Zealand at 18.6 per cent YoY and Slovakia at 16 per cent YoY. India was the weakest-performing country in Q4 2020, with a decline of 3.6 per cent YoY in home prices, followed by Morocco with a drop of 3.3 per cent YoY.


The report highlighted that 89 per cent of countries and territories saw prices increase in 2020, with several emerging markets, including Turkey, performing strongly. Mainstream residential prices across 56 countries and territories worldwide rose at an annual rate of change of 5.6 per cent on an average in 2020 compared to 5.3 per cent in 2019.

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