Mumbai Takes the Lead in Residential Property Investments
A recent survey reveals a shift in the real estate investment landscape. Mumbai has emerged as the top choice for property investments, surpassing other major metropolitan areas. Chennai has also climbed the ranks, overtaking Bangalore as the preferred investment destination in South India. The survey, titled “Trend in residential space across top cities in the current scenario,” highlights the growing appeal of these two cities.
Emerging Investment Hotspots
Beyond the established metros, several other cities are gaining traction among investors. Patna, Nasik, Tiruchirapalli, and Madurai are now considered desirable locations for property investments, indicating a broadening of the Indian real estate market.
Home Loan Interest Rates and Property Size Preferences
The survey also shed light on buyer preferences and expectations. A significant 60% of respondents anticipate a further reduction in home loan interest rates in the coming months. Furthermore, a considerable portion, around 40%, expressed interest in properties ranging from 500 to 1,000 square feet in size.
Survey Demographics and Expert Insights
The survey encompassed a diverse participant pool of over three thousand individuals from various metros and other prominent cities, including Pune, Ahmedabad, Thane, Coimbatore, and Vadodara. Commenting on the survey findings, Murugavel Janakiraman, Founder and CEO of Consim Info, noted a resurgence in market optimism. "Market sentiments are reviving and people are ready to invest. Based on our survey, more than 60 percent of customers are looking at buying residential properties in the next six months. They also have a hope that interest rates on home loans will soon come down", Janakiraman stated.