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India Among Countries With Slowest Growth In Housing Prices In Q3 2019

By Staff

Amid slow demand, India ranks 47th among 56 countries for appreciation in housing prices as rates grew by only 0.6 percent in the July-September quarter when compared to the same period a year ago, according to global property consultant Knight Frank.

India Among Countries With Slowest Growth In Housing Prices In Q3 2019

It released its latest report, the Global House Price Index Q3 2019, tracking the movement in mainstream residential prices across 56 countries and territories worldwide using official statistics.

In the previous quarter (April-June 2019), India was at the 11th position with a 7.7 percent year-on-year increase in home prices.

"Slow sales, high inventory and lack of liquidity with developers have restricted rise in home prices," the report said.

Hungary topped the index for the third quarter with 15.4 percent annual price growth.

The top ten highest year-on-year increase in home prices were seen in:

Country % increase in home prices
1 Hungary 15.40%
2 Luxembourg 11.40%
3 Croatia 10.40%
4 Slovakia 9.70%
5 Latvia 9.00%
6 Czech Republic 8.70%
7 China 8.50%
8 Jersey 8.50%
9 Mexico 8.40%
10 Russia 8.10%

Overall, prices of housing property across the 56 countries at an annual rate of 3.7 percent on an average, the slowest in six years. However, a majority of these registered a statistic or positive growth for the end of September 2019.

Read more about: housing
Story first published: Friday, December 27, 2019, 15:28 [IST]
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