All About Property in India
What can you say about India property, and I don’t mean in the sense of there isn’t much to say, more a case of where to start.
India is one of the hottest property markets in the world, due to the combination of a massive, young population, growing at a rapid rate in numbers, and growing at a rapid rate in affluence. This is a powerful combination for a property market, as has been seen through the centuries and is being seen now in emerging markets around the world. None more so than India though because its population is bigger, denser, and faster growing in numbers and affluence.
India property hit big with foreign investors during the boom, though looking back now many of the purchases were practically doomed to failure. At the time many buyers were paying through the nose for high end properties, with the supposed exit strategy of selling to the upcoming middle class. At the time it seemed viable but when the economy crashed, foreign buyers disappeared and the market collapsed.
Now those investing in property in India are primarily buying into affordable housing developments in areas of great housing need. This is where the sensible money is because this is where the demand is both short term and long term.
People are converging in areas where business and employment are booming, and there just isn’t enough accommodation to go around, let alone quality accommodation. So landlords in the good properties, especially the new builds don’t need a developer to guarantee them a rental yield, demand can do that all by itself almost. And as the middle class continues to become more affluent, there will be an exit strategy for anyone wishing to sell.
