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Young Indian residents in the UAE are showing active interest in investing in property in their home country, according to a new research by Sumansa Exhibitions. According to the report, nonresident Indians (NRIs) between 18 and 35 years form 43 per cent of those investing in Indian real estate. The research also reveals UAE resident Indians' increasing interest in cities such as Hyderabad and Chennai.
In 2014, Hyderabad was the eighth most popular city, with 6 per cent of NRIs voting for it, but climbed to fifth this year, with an increase of three percentage points. The top three slots still remain with Mumbai, Bangalore and Pune respectively. Chennai jumped one place from fifth to fourth.
''The trend has been strengthening in the past decade. While earlier we would see older people planning and saving to buy property, today more young people want to solidify their savings in the real estate market,'' said Sunil Jaiswal, President of Sumansa Exhibitions, which is organizing the Indian Property Show on December 1-3 at the Dubai World Trade Centre. ''They also have very good understanding of the financial gains associated with realty and many more options of home leasing and loans than their parents did.''
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Source: Property Weekly