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Detailed explanation-1: -Detailed Solution. The correct answer is 55. Indian property market has moved down 12 spots in Knight Frank’s Global House Price Index to 55th rank in the first quarter of 2021 against 43rd rank in 2020.

Detailed explanation-2: -Turkey led the index with the highest annual price growth rate of 59.6 percent in the year to Q4 2021 in nominal terms.

Detailed explanation-3: -In its latest research report Global House Price Index – Q4 2021, Knight Frank cited that India climbed up five spots to attain the 51st rank in Q4 2021 against 56th rank in Q4 2020.

Detailed explanation-4: -Global House Price Index tracks the movement in mainstream residential prices across 56 countries and territories worldwide using official statistics. The index tracks nominal and real price growth in local currencies. The rankings on the price movement have been accounted basis the nominal price growth change.