BENGALURU — Indian house prices will stagnate this year, hurt by a devastating second wave of the coronavirus which has crushed demand and offset government tax rebates and incentives for property developers, a Reuters poll showed.
Asia’s third-largest economy has become the global epicenter of the pandemic, with around 26 million cases and about 290,000 deaths so far, pushing several states to reimpose restrictions, stalling business activity.
That means average house prices will stagnate this year, according to the May 11-19 poll of 12 analysts, a downgrade from an already modest 1.3% rise expected in the previous poll in January. Four analysts penciled in a decline in hous…
Keep on reading: Coronavirus wave flattens Indian housing market views — poll