Sama 2.0 will answer real-time questions, help travellers design curated travel experiences, and find answers for customers
aviation3 hours ago
More NRIs in the UAE are now interested in securing an additional investment back home - there has been a rise of 110 per cent in this segment from 20 per cent last year to 42.12 per cent now.
This was revealed in a survey conducted by the organisers of the upcoming Indian Property Show among 10,000 UAE-based Indian expats.
There is an increase of about 45 per cent in people looking to buy homes in the budget range of Rs5.1 million to Rs7.5 million (Dh290,000 to Dh426,000) from 21 per cent last year to 30.48 per cent this year.
Although Mumbai, Chennai, Bengaluru, Delhi, Hyderabad and Pune remain the top favourite cities among the Indian community here, Kannur, Thrissur and Thiruvananthapuram have emerged as new destinations of interest.
"NRIs are crucial stakeholders of the real estate industry. In 2017, total NRI investment in realty in top eight cities is expected to touch $11.5 billion [Dh42.20 billion]. This will represent 20 per cent of the total market share, currently estimated at $60 billion [Dh220 billion]," said R. Srividya, general manager of corporate sales and brand engagement, Indian Property Show, Sumansa Exhibitions.
The Indian Property Show, now in its 20th edition, will be held from June 8 to 10 at the Dubai World Trade Centre.
The survey was conducted to understand the reason of buying property in India, preferred cities for investments, type of property, timeframe, budget and finances planned, etc.
Apartments remained a favourite choice for investment at 46.97 per cent followed by villas (27.35 per cent), land (15.08 per cent) and commercial (10.60 per cent). There has been a 51 per cent increase within the 41 to 50 year age group of people looking to buy property in India, from 25 per cent last year to 37.78 per cent this year.
Majority of interested NRI buyers from the UAE fall within the monthly household income bracket of Dh10,000 to Dh20,000 at 39.17 per cent, whereas the second biggest group earns between Dh20,000 and Dh30,000 at 22.01 per cent.
There has been a decline in intent to purchase within the budget ranges of Rs500,000 to Rs2.5 million (19 per cent to 14.3 per cent) and Rs2.6 million to Rs5 million (26 per cent to 21.94 per cent).
There has been a 32 per cent increase in the number of NRIs looking to purchase in the budget range of Rs5.1 million to Rs10 million (37 per cent to 48.38 per cent).
- business@khaleejtimes.com
Sama 2.0 will answer real-time questions, help travellers design curated travel experiences, and find answers for customers
aviation3 hours ago
Spot gold was slightly down at $2,335.13 per gram on Monday
uae3 hours ago
As authorities sprang into action to drain waterlogging, tenants and homeowners had to navigate the aftermath of nature's unpredictability
uae4 hours ago
The 51-year-old recently competed in the Masters Indoor World Cup — his 10th international tournament since undergoing surgery
sports5 hours ago
Met Department advised people to take precautions during strong convective cloud activity associated with rainfall over Eastern and Northern areas
uae5 hours ago
Earlier, interest-free loans were announced for Emiratis whose businesses were affected by the rains, with a grace period of 6 to 12 months
uae7 hours ago
Following a $3 per barrel average global price increase in March, petrol prices for April increased by 12 fils per litre in the UAE
uae7 hours ago