Second home market becoming increasingly appealing
The second-home market is becoming a hot spot for developers and investors alike.
From developers’ point of view, the second-home market is, to a certain extent, immune from recession. From the buyers’ point of view, second home markets are attractive as they give an opportunity to be away from the bustle of city life at a lower rate.
Some of the favourite second home destinations in India are Shimla, Kasauli, Dehradun, Mussoorie, Ramgarh, Mukteshwar (near Delhi) and Alibag, Lonavala, Goa (near Mumbai). Haridwar, Vrindawan, Mathura, etc make desirable destination for religious-minded people. The potential buyers are usually the high net worth individuals or belong to upper middle class.
Though considered a slow market, the second home market has seen an appreciation of 20-30 per cent in the last few years.
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[...] of South India” is in Chennai. Over the years, it has developed as a preferred choice for second homes or holiday homes. Owing to its comparatively less population, pleasant weather, affordable cost of [...]