Summary Poll dataBENGALURU, March 7 (Reuters) - India's housing market will remain resilient despite rising interest rates and a weak global economic outlook, according to a Reuters poll of property analysts who have barely changed their forecasts from three months ago.
Defying a global trend of falling housing prices as mortgage rates rise and crimp affordability, India has exhibited resilience and is emerging from a decade-long downturn due to strong demand.
A major source of employment in a country of 1.4 billion people where a majority are unskilled, the Indian housing market is likely to remain a stable contributor to economic activity in Asia's third-largest economy.
A recent increase in unemployment also raises concerns about the sustainability of the current housing market trend.
"Amid rising prices, affordability will only worsen in the coming quarters.