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7 Factors That Propel Home Buyers To Invest In Tier-II & Tier-III Cities

7 Factors That Propel Home Buyers To Invest In Tier-II & Tier-III Cities
PropGuide takes a look into how major Indian cities have been fared in the recent past. (Wikimedia)

Nowadays, Tier-II and III cities are viewed as excellent investment option as the property prices in metros are soaring. Within Tier-II and III cities, most metro city dwellers feel it is a good option to buy a property in nearby vicinity to the city rather than in a completely new city and with high property prices. Here are seven factors that propel home buyers to invest in Tier-II and III cities.

  • Cost effective alternative to metros: Tier-II and III cities are a better alternative as house rent, transportation, education, and many necessities are more cost effective compared to the expensive metros.
  • Second homes: Many buyers are buying homes in these cities as second homes, which can be later used as a weekend getaway or as an investment.
  • Retirement planning: With increasing awareness about personal finance and planning, people have started thinking of planning early for their retirement. Many prefer to spend their retirement in a more peaceful and hassle-free environment.
  • Appreciation in land rates: Land available in these cities is affordable now and expected to rise in the near future with rapid urbanisation.
  • Better connectivity: Most Tier-II and Tier-III cities are better connected today making them much more accessible. Cities like Amritsar have an international airport thus, assuring a steady flow of tourists and pilgrims.
  • Better standard of living: With all the world class facilities now available in well-developed townships and distances within the city much smaller than metros, these cities offer stress-free life.
  • NRI investing: Integrated township construction with a bungalow spread across acres of land is the most popular choice of investors in these cities. 

Tags: Buyers, retirement destinations, Investment, Editor, Sticky, Tier-II cities, NRI Investment, makaaniq, Tier-III Cities


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