Mumbai still top choice for Indians abroad
Bengaluru is more for ownership and better lifestyle.
Dubai: Mumbai is the still top investment choice for expatriate Indians in the UAE. Up to 27 per cent flocked to India's financial hub to buy a home, with Bengaluru coming in second with 17 per cent, according to an survey conducted by Sumansa Exhibitions and organisers of the Indian Property Show.
"Buyers focus is primarily on properties that have potential for assured rental yields and capital appreciation," said Sunil Jaiswal, CEO. "Mumbai enjoys commercial prominence, location advantage and increasing wealth, hence it continues to remain investor's favourite."
Delhi and its national capital region, Pune and Chennai are the other three cities to feature in the top five destinations for NRI property investments.
Around 14,000 NRIs in the UAE participated in the survey which was conducted to understand the reasons for buying property in India, the type of property, the time frame to buy, budget and finances planned.
"Bengaluru's sales market witnessed increased demand levels both from end-users as well as the investor community," said Jaiswal. "The survey actually points out that Mumbai is looked for quick capital appreciation whereas Bengaluru is more for ownership and better lifestyle.
"Delhi's NCR region and especially Gurgaon has registered substantial price appreciation in the range of 20-25 per cent whereas several locations in Delhi are expected to rise over the next few months."
