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Mumbai is Top Draw For Property Investors 12/08/2014
Mumbai remains the top favourite of property buyers with preferences for flats and bungalow, followed by Bangalore and Chennai as the next important destinations, according to a new survey released in Mumbai on Wednesday.
The survey, conducted by Indiaproperty.com, included a 2,583 strong sample of 40 per cent respondents in the 25-35 age group and the rest above the age of 46 years.
Nearly one-third of the respondents feel that the time is ripe to make a property investment decision, while 49 percent plan to wait and watch for sometime, with the remaining 16 percent saying the time is not right yet.
However, nearly two-thirds - 62 per cent - of all respondents expect property prices to soar in the near future while the rest feel that there will be an escalation in the next one-two years, but a total of 79 per cent prefer to go for long-term investments in property.
As far the preferred mode of investment goes, flats/apartments top the list with 40 per cent of the respondents, followed by individual bungalows with 24 per cent and residential plots favoured by 23 per cent of the people.
Commercial properties found favour with just seven per cent and country houses and row-houses were chosen by three per cent each.
Mumbai, the country's commercial capital remains the hot favourite for all property investments, followed by Bangalore and Chennai.
The other cities next on the rankings include Pune (Maharashtra), Kolkata, Delhi-NCR and Hyderabad.
More than half - 55 per cent - of the respondents expect the NDA government to reduce home loan rates and the rest demand better infrastructure and setting up of a real estate regulator.
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