Investing in second home in Mumbai gaining popularity
As per reports, investing in second homes is a growing trend in metro cities especially in Delhi. This shows a rising trend in the residential real estate in Mumbai.
The reason for investment in a second home for Mumbaikars can be any. For some, it is just a weekend getaway from the hustles and bustles of city life. For others, it is just an investment option. However, in Mumbai, owning a second home is still a status quo and the primary reason for owning it is still lifestyle.
Many claim that they will invest in a second home for long term self use but equal population quoted owning second home is just for investment purpose. The major factors which affects anyone’s decisions are budget and location of the project. High rental returns are also attracting a huge buyer base towards buying a second home.
The main localities which are famous for buying second homes in Mumbai are the far flung suburbs in the city. Some of the localities include Karjat, Murbad, Alibaug, Mumbai-Nasik Road, etc.
With many affordable options, buying a second home is not only limited to high-end buyers. The middle income group also equally participates in the buying spree of a second property.
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