In a recent survey on Indian Properties by Sumansa Exhibitions, Bangalore has emerged as one of the hottest spots for property investments by NRIs, while Mumbai still retains the top spot at 31.86 per cent
Amongst UAE based Indians, Bangalore takes the second spot with 24.35 per cent preferring to invest in residential property in the coming months. Chennai and Pune take third place with almost equal percentage of people preferring these cities; Delhi assumes 4th position followed by Cochin, Navi Mumbai, Hyderabad, Gurgaon and Hyderabad.
"Bangalore's property market bucked the trend in other metros with many new launches, good demand and resilient prices. Sector experts predict that residential property in the city will remain a good bet for 2014, too. Bangalore is the third-largest real estate investment hub for High Net worth Individuals (HNIs) and tops the list in terms of investments from Non Resident Indians (NRIs) looking at settling down in India in the future. With a high net-worth individuals population of about 10,000 -- the third highest in the country after Delhi and Mumbai -- Bangalore's super-luxury segment is also worth watching", commented Sunil Jaiswal, CEO Sumansa Exhibitions, organisors of Indian Property Show, the most popular and much acclaimed show of Indian Properties in Dubai to be held from 12-14th June 2014 at Dubai World Trade Centre.
Key facts from the Survey:
31 per cent NRIs looking for properties in the price range of 76 lakhs and above, mid segment range of 26-75 lakhs at 52.57 per cent
Demand for high end segment (1 crore plus) at 16 per cent, Bangalore a leading real estate hub for luxury home investments.
Residential Apartments are all time favourite with 77.17 per cent interested in buying one, compared with villas or commercial property.
Highest number of buyers in the age group of 36-50 years at 67 per cent
72 per cent buyers aim for immediate purchase within next 6 months.
More than 14,700 NRIs from 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.