In a survey conducted during the
recently held 7th India property show organised by Priya Publications &
indiaproperty.com, it has been estimated that 54 per cent of the demand was for
real estate investment in southern cities.
The demand for other southern cities
like Hyderabad & Chennai are 29% &
27% of the total number of visitors who attended the show in Edison.
There has been a spurt in the number of enquiries in all the 3 locations.
The range of properties that drove
demand for investment includes developed plots, apartments & villas.The price range for investment in
apartments varied from Rs. 50 lakh to Rs. 75 lakh. While a majority of the
demand is for use by NRIs' relatives, investors' level of interest formed a
significant portion due to the lucrative yield on investment and the
availability of property management services across Indian cities now.
While 49% percent of the NRI visitors
in Edison preferred housing loans to fund their home purchase back home, it was
44% in Dallas and 51% in bay area. As lending rates are falling in US for all
types of mortgages, and the average 15 year fixed loan has hit an all-time low
of 2.56%, NRIs are also keen to part finance through local sources.
Moreover, those NRIs who are
maintaining a good credit record in US are able to mobilise personal loan at
nominal interest rate to part finance their home purchase in India.
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