Indian house prices to drop 5% in 2020 for first time in a decade: Poll

Indian house prices will fall for the first time in at least a decade this year and next as the coronavirus pandemic leads to mass job losses and hammers demand and the economic outlook, a Reuters poll showed.

The Indian property market was being hobbled by a cash crunch even before the coronavirus outbreak, which has already infected more than 350,000 in the world's second most populous country.

Last year, Indian house prices rose 3.3% on average, lagging a 3.7% average rise in consumer prices and marking the weakest year since the Reserve Bank of India started tracking the market in 2010.

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