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Attention turns to India’s rental real estate market

Rental property investments are proving more popular in India as the country sees a slowdown in sales, according to experts.

Real estate companies say people have less money to spend on buying a house, leading many to look at lettings instead.

Aditya Verma, business head of Makaan.com is among those who have spotted a shift away from purchasing.

Quoted by the Hindustan Times newspaper, he said:

“In the past quarter, while makaan.com saw queries relating to rent of property rise by 19 per cent, it observed a 16 per cent decline in queries relating to purchase of property.”

In an April report on demand in the Indian real estate market, Makaan said 2008 was shaping up as “the year of affordable housing”.

More recent data from the company shows demand for property in Hyderabad declined by 11 to 12 per cent between June and August, according to the Business Standard.

The paper also reports the survey shows 62 per cent of those looking for property in the city would buy a residence anywhere in the area provided it met their basic requirements.

However, Hyderabad also appears to be bucking the rental demand trend, with the number of people looking for lets in the city down five to 11 per cent.

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One Response to “Attention turns to India’s rental real estate market”

  1. Many people are interested to settle here, as it is having the best facilities than other cities and the rentals also very less as compared to Bangalore, Chennai and Mumbai

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