India has moved up one spot up in the global home price index to 54th rank in the quarter ended June as against a year ago period as it continues to show resilience in the residential segment amidst the global outbreak of Covid19 pandemic, showed a Knight Frank’s global home price index for the quarter ended in June.
Mainstream residential prices in India witnessed a growth of 0.9% in the last two quarters and declined 0.5% in the last one quarter ending June. On a sequential basis, India climbed up one spot during the period.
The index tracks the movement of mainstream residential prices across 55 countries in. The index tracks nominal prices in local currency.
Turkey with 29.2% price growth continues to lead the annual rankings, but its rate of growth is slowing down. Australia at 16.4% recorded its highest rate of annual price growth since 2003.
A breakdown by developed and developing economies shows a more nuanced picture with developed markets outperforming by some margin.
Overall, 18 countries have reported double-digit growth, while India and Spain were the only countries to register an annual decline in home prices. However, this is the lowest proportion of markets registering a decline in prices since 2008.