The decline in domestic prices in India and the highest increase in Turkey achs Global Domestic Price Index
India has slipped to the 55th position in the Global Home Price Index.
According to the report of Knight Frank, from the third quarter of 2020 to the first quarter of 2021, there was a 0.6 percent increase in the prices of houses in India and during the fourth quarter of 2020 to the first quarter of 2021. An increase of 1.4 percent has been observed.
New Delhi. During the first quarter of the year 2021 in India, there has been a decline in the prices of houses (Home Prices Declined). Due to this, India has slipped 12 places to 55th place in the Global Home Price Index. India was ranked 43rd in this index during the first quarter of 2020. International property consultancy Knight Frank has said in its recent report that during the first quarter of the year 2021, there has been a decline of 1.6 percent in the prices of houses in India on an annual basis.
America’s highest annual price growth rate since 2005
From the third quarter of the year 2020 to the first quarter of 2021, the prices of houses in India have seen an increase of 0.6 percent and during the fourth quarter of 2020 to the first quarter of 2021, there has been an increase of 1.4 percent. Knight Frank’s report showed that America has seen the highest annual price growth rate since 2005, with an annual increase of 13.2 percent. On a year-on-year basis, Turkey ranks first in the global rankings in terms of prices, with an annual increase of 32 percent.
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In the global ranking, New Zealand is at second place with a growth of 22.1 percent and Luxembourg is at third place with a growth of 16.6 percent. Spain’s performance in the first quarter of 2021 has been the weakest. In Spain, the prices of houses have fallen by up to 1.8 percent. After this, India is in second place, where a decline of 1.6 percent has been seen. In the average price change in Indian markets, Kolkata prices fell by 4 per cent, Pune by 3 per cent, Mumbai by 3 per cent, Ahmedabad by 2 per cent, Bengaluru by 1 per cent and Delhi-NCR by 1 per cent.