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Real Estate >> News
Rising Income Sees Hill Stations Booming in Real Estate
By
PTI
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Wednesday, July 18, 2012
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Bangalore: With family income on the rise, hill stations in India are increasingly becoming attractive real estate destinations for more and more Indians, according to a survey.
While some want an embode in hill stations as only a holiday home, some others want it as a second home they can drop in any time they please. This appetite, though still niche, is catching up fast amongst Indian homebuyers.
The survey, conducted on the website Makaan.com from June one to June 23 this year, saw participation from over 4,800 respondents nationally, with the majority of them belonging to the age group of 26 to 35 years of age.
According to the survey findings, Indian hill stations are emerging as probable residential options. Gone are the days when owning a house in the hills was mostly looked from an investment point of view; today a large majority of home buyers are ready to move into the hills and are looking at these destinations for residing purpose in the near future.
With 37 percent, majority of survey takers expressed that for them the purpose of buying a house in the hills was clearly self use, be it for now or for future.
Another 29 percent respondents want to look at such options as a holiday destination or weekend getaway.
Interestingly, only 21 percent want to buy real estate in the hilly areas as probable investment options. The remaining 14 percent is made up of those who want to beat the city life and plan to settle post-retirement in these areas. .
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