If you are in the market to buy real estate, then you may be disheartened to learn that an average Manhattan flat is cheaper than a flat in Mumbai. Current property prices could be a sign, that prosperity which long evaded India after independence, has finally come home to roost, comparing as we the prices of Indian real estate prices with those in USA.
One may love or hate the Indian realty boom depending from which side of the fence you look at it i.e. buyer or seller, but the fact remains one cannot ignore it. Property prices have risen 30 to 50% in Indian metros over the past two years and have doubled in many suburban locations.
Investing in residential property these days will return a yield of roughly 5-6% per annum in rental terms, less than what fixed deposits and other investments may fetch you. Hence, realty investors are advised to focus on identifying locations that will not only yield good rental income, but will also appreciate in terms of capital value. Knight Frank (India), a real estate consulting firm say Mulund, Ghatkopar (E), Thane, Goregaon, Malad and Borivali in Mumbai are places to watch out for. In Delhi and the NCR region, Noida / Greater Noida, Gurgaon and Indirapuram are the prime picks, while J.P. Nagar, Banerghatta, and Hebbal among others are hot property in Bangalore. Old Mahabalipuram Road (Chennai), Rajarhat (Kolkata), Madhapur and Gachibowli (Hyderabad) are other places to look out for. If you know your Indian cities well, you will realise the bulk of real estate action is happening in the suburbs of top metros.
Construction activity, development of self-supporting infrastructure, etc. will see the realty prices in these location appreciate tremendously. Then too, many office spaces and IT parks are mushrooming across Bangalore, Delhi and the NCR region, Chennai, Mumbai, Pune, Hyderabad and Kolkata. Owning just 500 – 1,000-sq. ft. of residential space in the vicinity of these locations, you will be able to command any rental price from people working in these areas. Ever since a hub of industrial units including IT / ITeS opened in Noida, the cost of property in Indirapuram, Ghaziabad (which adjoins Noida) shot up dramatically. According to a real estate expert, commercial property is the most lucrative generating 12% yield annually, while retail (malls) property could generate 8 to 9%. Whichever, way you look at it; the Indian real estate boom refuses to go away. Whether, you want to buy real estate for rental or end using purposes, you will find that in the long-term, you will be the winner, even though other investment avenues at present may yield more than the 5 – 6% of rental yields. Land always appreciates in value and as IT / ITeS and other industrial units spring up thanks to India’s off-shoring / outsourcing boom, even rental returns from residential property in and around them will go up. If you have the patience to play the waiting game, residential or commercial property, you will get good rental returns.
Surfing Vacations Surf real estate in Baja is a very viable investment option for those who regularly surf or who have taken it up as a profession. Riding the untamed waves from the Pacific Ocean can be an exhilarating experience. There is no scarcity of beaches in the Baja peninsula offering different challenge levels to the surfers.
Buying a surf real estate can be a risky business for a foreigner as the Mexican lax prohibits the direct ownership of land on the Mexican coast. But hundreds of surfers are buying acre to two acre lots on the ocean along the coast by putting up a false front, using a local Mexican who are simple and sell the acquired "regularized" land through a "trust" or "fishing cooperative" to their foreigner friend. Among the top ten surf spots in the world, plots in Scorpion Bay have been almost completely sold. By Mexican law, once the Mexicano receives title he can legally sell land to a foreigner, utilizing a Mexican bank trust. Mexican property trusts, whether surf real estate or a beach home, for foreigners provide all the benefits of ownership.
Beach homes in Baja just a dream away
Buying a beach home in Baja is affordable and it comes with many other benefits, not to mention the unique health benefits of fresh food and wonderful climate. The standard of living is lesser than the cosmopolitan cities, and many Americans come across the border to Mexico for medical treatment. There are unique water sports activities like surfing, snorkeling and diving that can be taken up professionally. A Baja beach property can also be let out for a rental, through which some costs of maintenance and initial input will be covered till the time to live in it arrives. Buying a beach real estate property with an eye for further escalation and development is definitely better than paying rentals year after year for the vacations. A vacation beach home definitely cuts the budget burden and provides a tension-free holiday in one's own home.
Baja beach real estate can be an investment for retirement, or for a second home. Whether the beach home is bought with the purpose of a vacation get together or to live in latter years - one thing is certain - prices of Baja beach real estate is going up. So grab that dream house while it is still in reach!
Both Property Vertical & Rachelle Fuentes are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Rachelle Fuentes has sinced written about articles on various topics from Family Travel, Finances and Supplements. Do you want to live or have a vacation home at a Baja beachfront condominium? If the answer is yes, come check out exciting online private tour! Go to the link