Real Estate is considered to be the safest, ever-growing industry with positive returns on investments for people since decades. With the streaming time, there has been a major surge in the market prices of real estate in some of the major tourist destinations of India. And we can already consider the ‘why’? With less hustling and bustling as compared to city life and more soothing views around the aisle, having a property in an attractive and pacifying neighborhood is the perfect destination for recoveries through holidays. With changing times and the real estate market ready for the revival after getting hit adversely by the COVID-19 pandemic, the potential buyers are now ready to invest in the real estate market. But buying a property for use and buying it for investment has a different set of factors to be considered according to the needs and choices. While property for the end-use is brought close to business areas, for investment, people consider the areas of the city that have a unique chime of the surrounding or near the tourist places.
Buying a property in the heart of the tourist destination can be hefty on the pockets but, those considering them as their next destination can choose around the outskirts of the destination for a favorable deal.
This city in Tamil Nadu located on the Noyyal River is a major city of attraction as it is surrounded by some of the most alluring tourist sites like Nilgiris, Kodaikanal, and Coorg. The real estate of the city is majorly driven by its Information Technology (IT) and (ITeS) sectors. Moreover, the Central Government’s decision to make Coimbatore a ‘Smart City’ is driving more investment to lead to infrastructure expansion. The key micro markets namely R.S Puram, Perur Road, and Race Course drove the investment rate to a staggering 40% high in recent times.
This Himachal Pradesh hill-station is a little attraction that is becoming the weekender’s favorite destination. About 85 kilometers from Shimla and 65 kilometers from Chandigarh, people are also preferring this location for Holiday investment. Recently, some of the good developments have happened for Holiday home buyers in the otherwise cantonment hill station which helped the real estate in Kasaul trigger in chunks.
Ideally known as the popular tourist destination among the Indians, Goa is the preferred choice for owning a second or vacation home. Its serene charm and iconic beauty have made the destination popular among investors and NRIs to have a must-have property or a holiday home in Goa. The accessibility of malls, clubs, resorts, and the presence of beaches have made the demand of North Goa to soar high over South Goa. However, if you are someone who is looking for affordability, the properties at South Goa are a better bet as they are much cheaper.
The city in the Nilgiris is a popular tourist destination because of its lush green hills and tea estates. Ooty, today is a hotspot for holiday home buyers with several good projects completed and many more coming up to boost the real estate in the hills. With the major IT sector booming in the nearby cities like Bengaluru and Chennai, Ooty has become a destination for people to escape their hectic lifestyle in search of quality time. This ultimately led the real estate in the area to flourish for a good cause.
The ‘Pink City’ of India is fast becoming the hotspot because of the booming IT Industry, Automobile Manufacturing, and Educational Institutes, which certainly resulted in an emerging hub for investment. Ease of access from Delhi and Maharashtra as well as connected transport networks are two major factors bolstering real estate in this region.
Apart from the above list, there are cities like Panchkula (Haryana), Lonavala (Maharashtra), Nainital (Uttarakhand), Alwar (Rajasthan), Vrindavan (Uttar Pradesh) as well as some other popular tourist places have shown a major flourish in the real estate industry since the start of the last decade. Choices, lifestyle, preferences, space, area, and other such things come into the picture while looking for a property in tourist locations.