India ranks 51st in global list of annual rise in housing prices
- IBEF
- March 23, 2022
India ranks 51st in yearly house price appreciation, with a 2.1% increase in rates during Q4 of 2021. Turkey had the greatest annual price increase rate of 59.6% in the year ending in Q4 2021, followed by New Zealand (22.6%), Czech Republic (22.1%), Slovakia (22.1%), and Australia (22.1%). (21.8 per cent). In 2021, house prices in Malaysia, Malta, and Morocco fell by 0.7%, 3.1%, and 6.3 percent, respectively. The average yearly price change across 56 nations and territories was 10.3%.
The Global House Price Index follows the evolution of mainstream residential prices in 56 nations and territories throughout the world. In local currencies, the index monitors nominal and actual price increase. The nominal price growth change was used to account for the rankings on price movement.
The rebound in housing prices is a worldwide phenomenon, which was helped by government policy initiatives and cost inflation in many abroad markets. In India, nominal prices have increased marginally, reversing the downward trend of prior quarters and reflecting a similar pattern of demand growth.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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