UAE- NRIs prefer to buy apartments shows survey

(MENAFN- Khaleej Times) More than 70 per cent of NRIs are planning to invest in the next six months.

Dubai: A majority of non-resident Indians (NRIs) prefer to buy apartments and Bengaluru is the most preferred place for property investment along with Mumbai according to survey findings revealed on Sunday.

About 79 per cent are interested in buying an apartment compared to plots land villas commercial or retail in India. Citing reasons they said the key advantage of an apartment is security.

More than 70 per cent of NRIs are planning to invest in the next six months.

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.

Bengaluru 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 according to the survey.

About 15000 NRIs across the UAE participated in the survey which was conducted to understand the reason for buying property in India preferred cities for investments type of property timeframe budget and finances planned.

The report was released ahead of the Indian Property Show which is scheduled next month. Sumansa Exhibitions organiser of the show conducted the survey.

“2015 is expected to be a happening year for the real estate sector. Bengaluru is a market driven by end-users. The city has managed to survive the onslaught of the slowdown which gripped the country a few years ago. 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” Sunil Jaiswal president of Sumansa Exhibitions said in a statement.

India’s Silicon Valley — Bengaluru — 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 and salubrious climate.

“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” said Jaiswal.

“It is most popular among techies and skilled professionals” he explained.