{"id":2320,"date":"2019-03-06T11:14:27","date_gmt":"2019-03-06T11:14:27","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=2320"},"modified":"2021-06-04T14:18:26","modified_gmt":"2021-06-04T07:18:26","slug":"india-housing-market-to-cool-poll","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/india-housing-market-to-cool-poll\/","title":{"rendered":"India housing market to cool: poll"},"content":{"rendered":"
\"\"
Gurugram, India. Marcin Mierzejewski\/Shutterstock<\/figcaption><\/figure>\n

Despite government efforts to drive up consumption and defibrillate the economy, experts think the Indian property market will decelerate further this year, a\u00a0Reuters<\/a>\u00a0poll uncovered.<\/p>\n

National residential property prices in India are expected to grow just 1.3 percent this year, according to the survey of 20 property market experts between 13 February and 1 March.<\/p>\n

This is down from the 2.0 percent growth forecast by respondents in the November poll, Reuters noted.<\/p>\n

“House prices will only see moderate changes because of the uncertainty surrounding the general elections, present liquidity crisis and relatively slower sales,” said Anuj Puri, chairman at Anarock Property Consultants.<\/p>\n

House prices in the national capital region of Delhi alone are likely to fall 2 percent this year. Forecasts for next year are slightly less dire with national home prices expected to grow by 2.5 percent.<\/p>\n

A liquidity crisis, coupled with a slowing economy, is keeping buyers at bay, most respondents agreed. Bank lending has been subdued, clamping down the home buying market, as major financial institutions report a rise in non-performing loans.<\/p>\n

“It is no secret that in the past, funds parked by political parties in real estate were sucked out of the system to finance their campaigns \u2013 and the market is currently facing a serious liquidity crunch,” Puri noted.<\/p>\n

The government last month announced reductions in Goods and Services Tax (GST) rates levied on under-construction and affordable homes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dampened outlook for Indian residences as economy decelerates and bank lending dries up<\/p>\n","protected":false},"author":2,"featured_media":19969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[],"class_list":["post-2320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","news_country-india","news_author-property-report"],"acf":[],"yoast_head":"\nIndia housing market to cool: poll | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/india-housing-market-to-cool-poll\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India 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