India’s housing market seen to face difficulties in 2020

India’s housing market seen to face difficulties in 2020

Market experts have predicted India’s housing market to face difficulties in the year as sluggish demand and a dull market sentiment may overwhelm government measures to bolster the country’s economy.

Housing prices rose to its weakest 5.7% on average in 2018 with an underperforming market from last year despite the central bank’s (RBI) quick series of interest rate cuts.

Market analysts expect average house prices to climb by 2.0% in 2020 and 2.5% in the next year which was in contrast to the 3.0% and 4.25% from three months ago.

According to ANAROCK Property Consultants chairman Anuj Puri, project setbacks caused by the current liquidity crisis had resulted in less people purchasing housing.

While rising housing prices are expected for the next 2 years since a previous analysis, many expect prices in Southern major cities to double.