India's house prices will rise steadily in the next few years roughly in line with overall economic growth, with low chances of a significant slowdown over the coming year, according to property experts in a Reuters poll.
The findings highlight how the housing market, one of the biggest employers in a country of around 1.4 billion people, is likely to remain a stable contributor to growth in Asia's third-largest economy going forward.
"The growth trajectory is definitely poised towards the upside, but expectations of rising interest rates, which may act as a momentary disruptor to demand, may see developers easing up on price increases in 2023," noted Rohan Sharma, senior director at JLL Research.The Reserve Bank of India has also raised its repo rate, now at 5.90%, several times this year since May, by 190 basis points in total, with a few more hikes likely before a pause.
A regional breakdown of the latest Reuters poll data showed prices in Bengaluru, Mumbai, Delhi and Chennai were also forecast to rise by a median of 5%-6% over the coming three years, in line with the national average. House prices would need to fall by a median of just 6.25% from peak to trough to make them affordable, according to the median response to an additional question, with the highest estimate at 17.5%.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
INDIA Rupee to hover near 81/USD, bond yields await RBI decisionThe Indian rupee is expected to stay on the weaker side of 81 per dollar, while bond yields will remain rangebound until the Reserve Bank of India's (RBI) monetary policy decision on Wednesday when yet another interest rate hike is widely expected.
Read more »
India plans federal oversight of all real-money online gamesIndia's planned regulation of online gaming will apply to all real-money games after the prime minister's office overruled a proposal to only regulate games of skill and leave out games of chance, according to a government document and three sources.
Read more »
India plans federal oversight of all real-money online games-sources, documentIndia's planned regulation of online gaming will apply to all real-money games after the prime minister's office overruled a proposal to only regulate games of skill and leave out games of chance, according to a government document and three sources.
Read more »
Culinary favorites stir thoughts of family from Kentucky to India, China and beyondWe asked NPR readers and listeners to share their favorite family dishes. Try your hand at making these curries — plus a recipe for a slow-cooked country ham and others.
Read more »
INDIA RUPEE Rupee may inch higher after yuan's jump on reopening hopesThe Indian rupee is likely to open marginally higher versus the U.S. dollar on Monday after the Chinese yuan climbed above a key level on optimism over the country's reopening.
Read more »