New Delhi: Relief from the corona epidemic, increase in jobs and low interest rate of home loans has boosted the morale of home buyers. This is the reason why the prices of houses, especially residential houses, are increasing in the country. According to the Global House Price Index report by property consultant Knight Frank, India has jumped 5 places to the 51st position in the global list in terms of annual increase in house prices. Earlier it was at 56th place. Turkey is at number one in this list, where there has been a sharp increase of 59.6 percent in house prices.
House prices increased by more than 2 percent
Knight Frank’s Global House Price Index report states that in October-December of 2021, house prices in India have increased by 2.1 percent. In the same quarter of 2020, India was ranked 56th at the end of the global list. If you are also planning to buy a house, then do not delay because as the consumer’s sentiment improves, the prices will see a further increase. Also, the home loan interest rates are at the lowest level at the moment.
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According to the report, in the first (January-March) and second quarter (April-June) of 2021, domestic prices saw a decline of 1.6 per cent and 0.5 per cent, respectively. Whereas prices started increasing from the third quarter (July-September). India was battling Corona badly in the first and second quarters. That’s why the prices came down.
Turkey’s fastest rise of 59.6 percent
The report said that the prices of houses in Turkey have increased by 59.6 percent in the last one year. Prices increased by 22.6 percent in New Zealand, 22.1 percent in the Czech Republic, 22.1 percent in Slovakia and 21.8 percent in Australia. While prices have come down in Morocco, Malaysia and Malta. House prices fell by 0.7 percent in Malaysia, 3.1 percent in Malta and 6.3 percent in Morocco. This index monitors the fluctuations in the prices of houses in 56 countries and regions of the world.
Tags: Buying a home, global race, Home, Home loan EMI
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