India secures 54th rank in Knight Frank’s housing price index
Real Estate

India secures 54th rank in Knight Frank’s housing price index

India has secured the 54th rank out of 55 countries, in Knight Frank’s housing price index. For the first quarter of this calendar year, India was ranked 55th in the Global Housing Price Index. Turkey continues to lead the annual rankings, with a 29.2% increase in housing prices.

New Zealand comes in second with a price increase of 25.9%, while the United States comes in third with an increase of 18.6%.

The Global House Price Index tracks residential price changes in 55 countries and territories around the world. The index is based on nominal prices expressed in local currency.

In total, 18 countries experienced double-digit growth in Q2 2021, with India and Spain being the only countries to see annual home price declines.

At 16.4%, the annual price growth rate of Australia hit its highest since 2003.

Shishir Baijal, Chairman and Managing Director at Knight Frank India cited that the price of residential property in India has remained relatively stable with an overall negative bias, despite the effects of the second wave of Covid-19.

A healthy recovery is expected to take place in the housing market as Covid-19 cases continue to decline and a mass inoculation campaign continues, according to Baijal.

As per the report, the index is rising at its fastest rate since the first quarter of 2005. The pandemic-induced housing boom continued within the year to June, with prices rising 9.2% on average across 55 countries and territories.

Image Source


Also read: Housing unit launches slump 54% in Q1 FY22

India has secured the 54th rank out of 55 countries, in Knight Frank’s housing price index. For the first quarter of this calendar year, India was ranked 55th in the Global Housing Price Index. Turkey continues to lead the annual rankings, with a 29.2% increase in housing prices. New Zealand comes in second with a price increase of 25.9%, while the United States comes in third with an increase of 18.6%. The Global House Price Index tracks residential price changes in 55 countries and territories around the world. The index is based on nominal prices expressed in local currency. In total, 18 countries experienced double-digit growth in Q2 2021, with India and Spain being the only countries to see annual home price declines. At 16.4%, the annual price growth rate of Australia hit its highest since 2003. Shishir Baijal, Chairman and Managing Director at Knight Frank India cited that the price of residential property in India has remained relatively stable with an overall negative bias, despite the effects of the second wave of Covid-19. A healthy recovery is expected to take place in the housing market as Covid-19 cases continue to decline and a mass inoculation campaign continues, according to Baijal. As per the report, the index is rising at its fastest rate since the first quarter of 2005. The pandemic-induced housing boom continued within the year to June, with prices rising 9.2% on average across 55 countries and territories. Image SourceAlso read: Housing unit launches slump 54% in Q1 FY22

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?