India Ranks 51st in Annual Appreciation in Housing Prices

According to property consultant Knight Frank, India ranks 51st in terms of year-over-year home price growth with a 2.1% increase in rates during the October-December quarter last year. In the latest research report titled "Global House Price Index Q4 2021", Knight Frank said that India rose 5 places to  51st place in Q4 2021 from 56th place in Q4 2020.

Turkey reported the highest annual price growth rate by 59.6% in the year to the fourth quarter of 2021, followed by New Zealand (22.6%), the Czech Republic (22.1%), Slovakia (22.1%) and Australia (21.8%). Malaysia, Malta and Morocco markets reported a decline in housing prices by 0.7%, 3.1% and 6.3% respectively in 2021. 

Global House Price Index tracks the movement in mainstream residential prices across 56 countries and territories worldwide using the official statistics. It tracks nominal and real price growth in local currencies. The rankings on the price movement have been accounted basis the nominal price growth change.

With consumers’ renewed enthusiasm towards home-ownership, competitive house prices and low home loan interest rates, Baijal expects the market momentum to continue.