Mumbai real estate still a safe bet for local investors and NRIs

Image: travelguidemumbai.com

What makes Mumbai real estate a top choice for investors from India and NRIs these days? Well, it is the recent sentiments in the West of the world. The US credit rating downgrading, home sales hitting rock bottom again and the economic situation in Europe all mixed together!

The current wave of economic upheaval in Europe and the US has led to investors looking forward to park their money in safer options, including real estate. The global economic development is, in fact, likely to have a mixed effect on the investment market in the real estate scenario, observe realty experts.

"The current credit rating downgrade in the US can have an impact on Indian real estate too. In terms of residential real estate, the lowering of crude oil prices could have a softening effect on inflation, which will in turn help home buyers. Also, factoring in possible discounts during the upcoming festive season, there may be a discernible uptick in residential sales as against the previous estimates," says Anuj Puri, Chairman and Country Head, Jones Lang LaSalle India.

Mumbai presents a real estate investment option that continues to give great returns based on steady demand and an economy growing faster when compared to other global economies. NRIs and locals find it safe to park their money in real estate in India, especially Mumbai. As the ball rolls, such inflow of funds at this time further drives up demand, real estate prices and hence, returns on investment! We expect the trend to continue for at least a year from now, well into the mid of 2012! Sounds good eh?

Written with  the interview and excerpts from The Economic Times

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