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Property sales to see 20-30% fall due to demonetization

Property sales to see 20-30% fall due to demonetization

Tuesday, January 24, 2017, 11:27 AM

According to Fitch Ratings, residential property sales in India, are expected to witness at least 20-30% fall in 2017, due to the impact of demonetization. In its report "2017 Outlook: Asia-Pacific Corporates", Fitch changed its outlook on Indian housing sector to negative from stable. One goal of demonetization is to curtail undeclared wealth, which will take its toll on home demand, said the agency.
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