India’s domestic prices are declining year after year, due to which Q3 has dropped to 54th position in 2020. India was ranked 47th in Q3 2019. According to International Property Advisor Knight Frank, India has lost seven places in the global domestic price index, with India achieving 5th rank in Q3 2020 as against 47th rank in Q3 2019 in the third quarter of 2020.
Accordingly, the domestic price of India has declined by 2.4% year-on-year. The research report of the Global House Price Index Q3 2020 stated that Ireland, Spain and Hong Kong had the weakest year-on-year price increases during the third quarter, apart from India. Q3 2019 – Turkey remains at the top of the annual rankings with prices of 27.3% year over year in the 12-month percentage change of Q3 2020. Turkey was also at the top last year.
New Zealand and Luxembourg at number two and third
Turkey was followed by New Zealand with a 15.4% year-on-year price increase, while number three is Luxembourg where prices saw a 13.4% increase. India remained unchanged at 54th place in Q3 2020 as compared to the previous quarter Q2 2020. 56 countries and regions have been included in this list. Morocco’s performance was the weakest in Q3 2020. Morocco’s domestic value was up 3.3% year-on-year.
Corona epidemic effect
Shitir Baijal, chairman and managing director of Knight Frank India, reacted to this report. He said, “To combat the economic effects of the Corona epidemic, real estate developers began innovating their marketing strategies to attract buyers, including financial benefits, rebates and easy payment options. While overall real estate The dynamics of the sector have remained constant, with Q3 having a significant improvement in sales in 2020. “
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