India has slipped to the 51st position in the global list in terms of annual increase in house prices. According to a report by property consultant Knight Frank, there was an increase of 2.1 percent in house prices in the country in the October-December quarter of 2021.
Knight Frank in his latest research report ‘Global Housing Price Index – Fourth Quarter, 2021’ said that India’s position in the global list has jumped five places to 51st during the October-December, 2021 quarter. India was ranked 56th in the same quarter of the year 2020.
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According to the report, home prices in Turkey grew the fastest at 59.6 percent year-on-year in the fourth quarter of last year. Apart from this, New Zealand increased by 22.6 percent, Czech Republic by 22.1 percent, Slovakia also increased by 22.1 percent and Australia by 21.8 percent. On the other hand, Malaysia, Malta and Morocco saw house prices fall by 0.7 per cent, 3.1 per cent and 6.3 per cent, respectively. This index tracks the movement of home prices in 56 countries and regions of the world through official data.