Categories: Ranks & Reports

India slips to 56th rank in Global Home Price Index

India has moved down 13 spots in the latest global home price index to finish last at 56th rank in the quarter ending December 2020. Against its 43rd rank a year ago, India saw a decline of 3.6% year-on-year (YoY) in home prices, leading to the drop in global position, showed Knight Frank’s Global House Price Index. India was the weakest-performing country during the fourth quarter of 2020, with a decline of 3.6% in home prices, followed by Morocco with a drop of 3.3%.

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According to the report, markets like New Zealand (19%), Russia (14%), the US (10%), Canada and UK (both 9%) have recorded accelerated growth in rankings in the last three months due to a growth in housing demand.

The 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 – Q4 2020, Turkey continues to lead the annual rankings with prices up by 30.3% on-year, followed by New Zealand at 18.6% and Slovakia at 16.0%.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.