Real estate sector is a preferred investment option for several Indians and is going to maintain its supremacy over other investment options like gold and financial instruments.
The Knight Frank Wealth Report 2016 by its Chief Economist and National Director of Research Dr Samantak Das said that in the last ten years, the billionaire count in India has increased by 333 per cent while the global growth was just 68 per cent pointing to the growth of wealth in India.
These people preferred to invest in real estate sector with average number of residential properties owned by them stands at 4, while the global average is 3.7.
One-third of wealthy Indians increased their asset allocations to residential real estate over the past decade, the research has shown. Even middle-class and lower-income Indians dream of owning a home or are keen to save all through their lives to buy properties.
The wealth report clearly shows the real estate sector will be a preferred option even in the next 5-10 years. Only after 2025 might there be some changes.
The study showed Bengaluru is among the top 20 cities globally for investment followed by Delhi and Mumbai.