Higher returns on investments, more funding options biggest drivers
Mangalore joins the list of top 10 favourite real-estate destinations for NRIs in the UAE
· 43 percent of the respondents opted to invest in Indian real-estate to build profit on it
· Increase in buyers opting to fund their real-estate purchase
· Apartments continue to remain the popular choice
Dubai, UAE: More than 40 percent of the NRIs living in the UAE prefer to buy Indian property as an investment, whether for the first time or as an additional asset. As per the latest survey conducted by Sumansa Exhibitions, the organisers of the biannual Indian Property Show in Dubai , 43 percent of the respondents opted to invest in Indian real-estate so that they could build profit on it, as compared to 57 percent who were buying property for personal use. Out of these 22 percent were buying it for the first time, while for 21 percent this was an additional investment. The upcoming, Indian Property Show will be held at Dubai World Trade Centre, Zabeel Hall 5 from 2nd to 4th of June 2016.
In another development, Mangalore emerged as yet another favourite property destination for NRIs in the UAE, finding a place among the top 10 most popular cities. Mumbai and Bangalore continue to retain the top destination slots on the popularity chart.
"An increasing number of Indians are looking to park their wealth in Indian real-estate because they foresee lucrative returns on investment," said Srividya Rajan, General Manager- Corporate Sales & Brand Engagement, Sumansa Exhibitions, "At a time when the rupee has depreciated against dollar, many investors feel the time is ripe to lock their savings in Indian property, before prices escalate. Moreover, with so many funding options available, buying an additional property for investment has become an easy choice, especially now that certain two- and three-tier Indian cities offer more affordable, yet luxurious, property, which promisesto appreciate."
Recent active developments has put Mangalore on the Indian map as one of the hottest property destinations to invest in. "Close proximity to Bangalore which buzzes with economic activity has given the city a strategic advantage, which have helped establish a real-estate demand in the city. Besides a popular tourist spot, Mangalore is also fast developing into commercial and IT hub with sound infrastructure. The past few years also saw a number of builders focusing their efforts in coming up with a range of affordable and luxurious property in Mangalore, which maybe one of the reasons in its rising popularity among NRIS," added Srividya.
Other important findings of the survey included:
• 75 percent buyers looking to purchase property upto 1crore and more.
• 4 percent decrease from 65 to 61 percent in buyers opting for finance when buying property
• Apartments remain the popular choice of property.
14,600 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.
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© Press Release 2016
