Summary poll dataBENGALURU, June 5 (Reuters) - Home prices in India are set to hold above consumer inflation, even though interest rates are expected to stay higher for longer than previously thought, a Reuters poll of property analysts found.
The May 16-June 1 poll of 12 property analysts predicted national home prices would reach a median 6.0% this year, a modest upgrade from the 5.5% expected in a March survey.
"The interest rate cycle is near its end," Arvind Nandan, managing director of research at Savills India, said.
Rates are set to stay at 6.50% for the rest of 2023 and start falling early next year.
All analysts who answered an additional question said they were bullish about the housing market outlook.
Persons:
Arvind Nandan, Anuj Puri, Rohan Sharma, Vivek Mishra, Veronica Khongwir, Madhumita Gokhale, Hari Kishan, Ross Finley, Barbara Lewis
Organizations:
Reserve Bank of, JLL Research, Thomson
Locations:
BENGALURU, India, Reserve Bank of India