We are Wealth Clinic Team
India has moved up five places in the global home price index to 51st place in the fourth quarter of 2021, from 56th in the fourth quarter of 2020.
In the fourth quarter of 2021, Knight Frank says it was the best quarter because prices rose 2.1% year over year, more than any other quarter. The Global House Price Index looks at changes in the prices of homes in 56 countries and territories worldwide based on official data. Index: The index looks at how prices in local currencies have changed over time. The prices have been ranked based on how much the prices have changed in real terms.
In nominal terms, Turkey had the highest annual price growth rate of 59.6% in the year to Q4 2021. In real terms, Australia had the highest annual price growth rate of 17.5% in the year to Q4 2021. Globally, house prices rose 10.3% on average in 2021. There were only three markets in 2021 that saw prices fall by 0.7%, 3.1% and 6.3%. Malaysia, Malta, and Morocco were the only ones.
Indian home prices fell by 1.6 per cent and 0.5% each quarter from January through June of 2021, respectively. Residential prices rose 0.1 per cent in the third quarter and 2.1 per cent in the fourth quarter of 2021, which is good news.
According to a report, people in these ten countries have seen the most significant rise in house prices since a pandemic started. Most of these countries are developed and have had government support for their economies and housing markets, such as mortgage breaks or subsidy programmes.
“The pandemic had a positive effect on the rise in house prices, which was helped by government policy and rising costs in many other countries.” In India, nominal prices have risen a little, bucking the trend of falling prices that had been going on for the last few quarters. This shows that demand is growing, too, “said someone who knows a lot.
It has been a long time since the pandemic, but Indian real estate has consistently grown. In the last year, the demand for homes in India has gone up. The Global Price Index shows that the real estate market has a bright future. People who want to buy a home in Mumbai are becoming more interested in increasing prices. Many people are now looking for high-end housing, which is going to drive up prices even more. This makes now a great time to invest in and buy real estate, “said someone who knows a lot.
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