Mumbai has emerged as the top Indian city
for property investments by NRIs in the UAE with Bangalore being the
second most popular, according to a survey. Mumbai retained the top
spot with 31.86 per cent NRIs preferring to make property investments in
the city, a recent survey on Indian properties by Sumansa Exhibitions,
the organisers of the Indian Property Show in Dubai, said. Bangalore
came in second with 24.35 per cent preferring to invest in residential
property in the coming months, the survey said. Chennai and Pune
jointly hold the third place with almost equal percentage of people
preferring these cities. Delhi has the fourth position followed by
Cochin, Navi Mumbai, 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," said Sunil
Jaiswal, CEO Sumansa Exhibitions. "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", said Jaiswal. "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," he said. The property exhibition organised by the
group will be held from June 12 to 14. According to the survey, 31 per
cent NRIs looking for properties in the price range of 76 lakhs and
above, 52.57 per cent look for mid segment range of 26-75 lakhs and
demand for high end segment, 1 crore plus, is at 16 per cent.
Residential apartments are all time favourite with 77.17 per cent
interested in buying one, compared with villas or commercial property.
The highest number of buyers is in the age group of 36-50 years at 67
per cent, the survey said adding that 72 per cent buyers aim for
immediate purchase within next 6 months. More than 14,700 NRIs from
across UAE participated in the survey.
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