Expats, professionals keep up Kozhikode realty
Owing to the deteriorating rupee value, expatriates are busy buying properties especially in tier III cities of India like Kozhikode.
Many NRIs, especially from Gulf countries, are planning to return back home.
With the availability of well-set educational institutes, health care and general quality of life, the city is fast becoming a preferred place for the expat families who are not comfortable living in villages. Around 60% of the total realty contribution in both residential and commercial segments is bought by them.
Market experts say that even the local market, motivated by a majority of professionals, has been contributing significantly to the stability of the sector.
However, what has helped the property scene bloom in the city is the healthy demand-supply ratio of real estate properties.
With more and more professionals in the city embracing the concept of apartment living, the local buying of realty spaces too is going up.
To read more real estate news:
ICICI Bank provides special loan to NRIs
Property prices not affected by low demand
Source: The Times of India
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