79% UAE based NRIs looking to buy apartments in India
Bangalore retains its spot as the key investment destination
17th May, 2015, Dubai, UAE....In a latest report released by Sumansa Exhibitions, the organizers of Indian Property Show, a huge percentage of NRIs from UAE about 79 percent are interested in buying an apartment compared to plots, land, villas, commercial or retail in India. Additionally, there are many more interesting facts which have come to fore as part of the research. According to the findings, Bangalore has topped the charts for NRI property investments and shares the spot with Mumbai, followed by Chennai, Pune, Cochin, Delhi, Hyderabad, Navi Mumbai, Goa and Ahmedabad.
Apartments are preferred choice of investment for most NRIs as one of the key advantages of an apartment is security. Facilities such as power and water backup, uninterrupted supply of cooking gas is also some of the key factors going in favor of apartment purchases. An apartment which is part of a large development comes with a number of benefits, for instance- well maintained garden and landscaping, club facilities, maintenance and provision of hassle free services, ease of renting, easy availability of convenience within the complex amongst many other facilities.
“2015 is expected to be a happening year for the real estate sector.Bangalore is an end user-driven market. The city has managed to survive the onslaught of the slowdown which gripped the country a few years back. The “City of Gardens” was able to keep the sales ticking and also emerged as the territory with the highest number of new projects unveiled in 2014. India’s Silicon Valley – Bangalore – is the fastest-growing metropolis in the Asian continent. For decades, the city has been widely known all over the world for its cosmopolitan outlook, salubrious climate, and innate desire to respect different cultures. Today, it is a much sought-after city with NRIs returning to India. Many are keen on making the city their home. The city has evinced so much interest among NRIs of late that even those who have not had the occasion to visit the city have plunged into investments in real estate here. It is most popular among techies and skilled professionals”, commented Sunil Jaiswal, President –Sumansa Exhibitions, the organizers of Indian Property Show, the most popular and much acclaimed show of Indian Properties in Dubai to be held from 11th-13th June 2015 at Dubai World Trade Centre. Key facts from the Survey:
Highest number of buyers in the age group of 31-50 years at 67%. 55% looked at the property with the intention of buying for their own use. Whereas for the others it was an additional investment. Residential apartments are preferred for investment with 79% voting in favor, followed by villas and land. Commercial properties are least preferred for investment. Over 65% property buyers looking to financial institutions to finance their purchase. 72% buyers aim for immediate purchase within next 6 months. 11% not sure of the time frame for purchase and rest would consider buying within next 1-2 years. Demand for high end segment (1 crore plus) at 17%, Bangalore a leading real estate hub for luxury home investments. About 15,000 NRIs across UAE participated in the survey which was conducted to understand the reason of buying property in India, preferred cities for investments, type of property, time frame, budget and finances planned etc. C