India housing market to cool this year
Indian house prices will barely rise this year as a slowing economy and a liquidity crisis keep buyers on the sidelines, according to a Reuters poll, which forecast prices would fall in Delhi, the national capital.
With non-performing loans rising at major banks and financial institutions, bank lending - the main source of borrowing for developers and buyers - has dwindled, reining in a rampant property market.
After nearly tripling in the past decade and rising for many years at double-digit rates, house price gains have slowed over the past two years, according to Reuters calculations based on the Reserve Bank of India's All-India House Price Index.
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