August 14, 2025: Knight Frank’s latest Global House Price Index (Q1 2025) has placed India among the top-performing residential markets worldwide, with annual house price growth of 7.7% in nominal terms and 4.2% in real terms. This performance puts India at 15th position among 55 global markets tracked, ahead of major economies like the United States, United Kingdom, and Australia.
The findings highlight sustained momentum in India’s housing market, supported by robust domestic demand, improving macro-economic conditions, and a gradual easing of borrowing costs. On a quarterly basis, Indian residential prices grew 2.9%, signalling continued buyer confidence.
Knight Frank Global House Price Index
| Rank | Location | Nominal | Real | |
| 12- months % Change | 3-months % change | 12-month % change | ||
| 1 | Turkey | 32.2 | 9.7 | -4.2 |
| 2 | North Macedonia | 22.6 | 9.9 | 24.2 |
| 3 | Portugal | 16.9 | 5.7 | 14.8 |
| 4 | Bulgaria | 15.1 | 4.2 | 10.6 |
| 5 | Croatia | 13.1 | 4.5 | 9.6 |
| 6 | Hungary | 12.1 | 5.2 | 7.1 |
| 7 | Slovakia | 11.4 | 4.0 | 7.2 |
| 8 | Netherlands | 10.6 | 2.5 | 6.6 |
| 9 | Colombia | 9.9 | 3.5 | 4.6 |
| 10 | Japan | 9.5 | 7.2 | 5.6 |
| 11 | Czech Republic | 9.3 | 2.2 | 6.5 |
| 12 | Spain | 9.0 | 3.1 | 6.6 |
| 13 | Mexico | 8.2 | 2.3 | 4.2 |
| 14 | Brazil | 8.1 | 1.9 | 2.5 |
| 15 | India | 7.7 | 2.9 | 4.2 |
Source: Knight Frank Research
Shishir Baijal, chairman and managing director, Knight Frank India said, “India’s residential market continues to benefit from strong end-user demand, rising incomes, and renewed investor interest. The positive price momentum reflects the strength of our housing sector, even in the face of global economic uncertainty. As interest rates stabilize further, we expect demand to remain healthy, particularly in mid- and premium housing segments.”
In Q1 2025, the weighted average annual price growth across our basket of 55 global housing markets picked up to 2.3%, up from 1.7% in Q4 2024, although the rate sits below the long-run trend rate of 5.1%. While this uptick reflects easing borrowing costs following recent policy rate cuts globally, further growth will likely depend on additional policy easing through the rest of 2025.
The report shows that 87% of markets worldwide saw positive annual growth, with Turkey, North Macedonia, and Portugal topping the global rankings. At the other end, Mainland China and Hong Kong SAR recorded the steepest annual declines.
“Global house-price growth has rebounded modestly above its long-run trend on the back of early rate cuts, but real affordability remains stretched. We believe further policy easing this year will be needed to sustain growth at or above trend” said Liam Bailey, Knight Frank’s Global Head of Research.
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