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India ranks at the bottom of global house price index

While the local housing market was already struggling to attract enough buyers, the current crises have resulted in a fall in average home rates by 1.6 percent dragging India's ranking by 12 positions

Topics
India | India house price | Housing market

Arnab Dutta 

real estate, farm house, housing, luxury, rich indians, property market

The ongoing Covid-19 pandemic has impacted India’s housing sector more severely than it has in other major economies. While the local was already struggling to attract enough buyers, the current crises have resulted in a fall in average home rates by 1.6 percent dragging India’s ranking by 12 positions in last one year. The Knight Frank Global House Price Index that measures rate fluctuations in 56 countries found at the bottom of the list – at 55th position – only followed by Spain. In fact, average price in was lowest in January-March quarter at least since mid-2015.

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First Published: Thu, June 10 2021. 18:45 IST
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