Fitch expects property sales in India to fall by at least 20-30% in 2017

The US-based credit ratings agency, Fitch ratings, came out with its latest report on the Indian housing sector, highlighting potential downside risks in-store this year.

Key Points:

Expect home sales to fall in 2017

Expects property sales in India to fall by at least 20-30% in 2017

Decline in prices due to significant weakness in Q4 2016

Worst of 2017 downturn likely to occur in H1

Homebuilders already have high levels of unsold inventory and likely to cut prices as demand weakens