If you can bargain for the right price at the right location, a second house can be a great investment proposition to earn good returns in near future
Now is the time to purchase if you’re considering a second or vacation home. Across the country, prices are near or below their five-year lows. An alternate abode yields regular returns in terms of rent and high capital gains. High income, tax benefits and lucrative returns on property in vestments have led the opulent middle class in Gujarat and its cities to opt for second houses in the same city or nearby satellite cities. Long term investors can benefit from investments in property such as a residential or commercial building, or land.Property investors must bear in mind that property as an investment requires adequate time to buy and sell.
Ample amenities, increased choices, improved construction quality and competitive rates make a second house a lucrative asset class that can provide a predictable income stream along with capital appreciation.
IN VOGUE
Second homes are increasingly becoming more in demand in Gujarat. Mid-segment consumers are beginning to purchase houses within the same city both, commercial and residential.Many in Gujarat are buying smaller commercial properties as they can be leased out to corporates for ATMs or one-two member branches.