Property prices ALERT! Of 55 countries, only India and Spain see decline in property rates in 2021 - See details here
According to property consultant Knight Frank, India's quarterly global price index in India's top 8 cities have seen a slight fluctuation in prices despite the fact that the prices of houses in India continued to fall.
Knight Frank Property Price Index 2021: According to property consultant Knight Frank, India's quarterly global price index in India's top 8 cities have seen a slight fluctuation in prices despite the fact that the prices of houses in India continued to fall. The prices of property have increased in 51 countries on the list and among them 18 countries have seen double digit growth. Only India and Spain have registered a slight decline.
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Knight Frank India's quarterly global price index informs that India ranks 54th in terms of price appreciation in 55 countries around the world. Turkey has the highest prices of 29.2 per cent, followed by New Zealand with 25 per cent and the US with 18.6 per cent annually.
The index further notes that Kolkata has seen a slight rise of 3.5 per cent, Hyderabad 1 per cent, NCR 0.5 per cent and Ahmedabad 0.3 per cent. That is where the prices have broken in the southern cities - Bengaluru recorded a decline of 1.2 per cent, Pune by 1.5 per cent, MMR and Chennai by 2 per cent, annually. The index also stated that if these cities are assessed on a quarterly basis, prices have weakened in almost all the cities.
It must be noted that property prices fell in India by 0.5 per cent on an annual basis. Spain, the other country that registered decline recorded the last number on the list with fall in property prices of 0.9 per cent.