India ranks at the bottom of global house price index
The ongoing Covid-19 pandemic has impacted India’s housing sector more severely than it has in other major economies. 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 in last one year. The Knight Frank Global House Price Index that measures rate fluctuations in 56 countries found India at the bottom of the list – at 55th position – only followed by Spain. In fact, average price in India was lowest in January-March quarter at least since mid-2015.
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