India has slipped 12 spots in Knight Frank’s residence worth index
India moved down 12 spots in Knight Frank’s international residence worth index to 55th rank in first quarter of 2021 in opposition to forty third rank in first quarter of 2020 with a decline of 1.6 per cent year-on-year in residence costs. The nation gained a spot in comparison with final quarter (fourth quarter of 2020) the place it ranked final globally amongst 56 nations tracked by the index.
With respect to six-month (third quarter of 2020 to first quarter of 2021) and three-month (fourth quarter of 2020 to first quarter of 2021) modifications, residential costs in India witnessed a progress of 0.6 per cent and 1.4 per cent respectively. The report highlighted that the United States witnessed the best annual worth progress charge since 2005 with a 13.2 per cent improve year-on-year.
In the 12-month proportion change for first quarter of 2020 to Q1 2021, Turkey continues to steer the annual rankings with costs up by 32 per cent year-on-year adopted by New Zealand at 22.1 per cent and Luxembourg with 16.6 per cent. Turkey continued to steer the index for fifth consecutive quarter whereas Spain was the weakest-performing territory within the first quarter of 2021 the place residence costs fell by 1.8 per cent adopted by India with minus 1.6 per cent.
Mainstream residential costs averaged throughout 56 nations and territories in Q1 2021 grew by 7.3 per cent which data the quickest progress in costs since fourth quarter of 2006.
According to the report, 7 per cent (4 nations) of the surveyed international nations and territories registered a decline in yearly worth progress whereas 13 of the 56 nations and territories skilled a year-on-year double-digit progress in costs until first quarter of 2021.
