Post-pandemic second home investment in India is witnessing a paradigm shift. With hill stations being a tranquil place, real estate investors aim to reap high profitability by investing here. Unlike earlier, a trip to the mountains any time of the year is feasible now.
Qualitative Infrastructure Soar Demand for Second Homes Investment in Mountains
With luxury villas in hill stations conferring panoramic views and serenity, life is peaceful here. As the year 2024 warps up, urban professionals and HNIs feel a second home investment is perfect in towns up above the hill.
According to moneycontrol.com, demand for the best hill station homes is up this year. Not just lush greenery but network is the reason for this growth.
(Image Courtesy – Insider)
An increase in income potential is a reason that led HNIs and NRIs to buy a dream home in the mountains. The jaw-dropping wooden architecture and design elevate the charisma of the best luxury villas in the mountains. Also, the availability of power and internet round the clock makes real estate investors admire the beauty of mountains.
Interestingly, the thought of the best second home investment in India has been grappling high since the pandemic. The chase for the best second home investment secures a position on the investment list. Thus, Shimla, Nainital, Rishikesh, and Kasauli are popular destinations to buy retirement homes in India in 2024.
Demand for Luxury Villas as Second Home Investment in India Soar in 2024
(Image Courtesy – staynest)
The clean air and minimum bustle make the best hill stations in India, a popular investment destination. The Delhi-NCR real estate is left behind in the demand for retirement homes this year. Experts feel that a healthy lifestyle in the hills is luring maximum attention.
The figures indicate Nainital witnessed 61 percent while Dehradun is the second most popular destination for best second home investment destination in India. The capital city of Uttarakhand secured 43 percent demand for luxury villas in 2024. Following these cities are Shimla (34 percent), Karnal (28 percent) and Rishikesh (26 percent).
(Source – moneycontrol.com)
These figures explain the zest for owning the best holiday homes in hill stations.
Real Experts Opinion on Rising Demand for Second Homes in Hills Stations
“With a 25 percent increase in searches for properties in hill stations, Rishikesh has emerged as an ideal location for discerning buyers seeking a serene escape and holistic living. We have observed a significant uptick in inquiries between 20 and 25 percent, particularly from urban dwellers looking for luxury homes that offer both tranquility and modern amenities” said Amar Kapoor, Founder Terra Grande by Eldeco Group.
Sushma Group, a prominent name in the real estate market in hill stations believes the land of devas holds investment potential. The developer feels not only a single factor but a bunch of features are turning property investors into mountains.
(Image Courtesy – Trip Advisor)
Prateek Mittal, Executive Director, Sushma Group said, “Solan, Kasauli, and Manali are investment magnets because of high tourist footfall and excellent infrastructure. Buyers are attracted by a mix of scenic beauty and high ROI (return on investment) potential. For instance, homes that once served as family getaways are now highly sought after for Airbnb or long-term rentals, making them viable financial assets.”
Manit Sethi, Director of Excentia Infra, said, “Hill station homes are redefining luxury investment in India. They are no longer restricted to seasonal use. Instead, they cater to buyers looking for extended stays or permanent residences. Many investors see these homes as an extension of urban living coupled with the added benefits of peace, privacy, and excellent ROI.”
In the top hill stations in India, urban professionals and high-net-worth individuals find peace. With remote and hybrid work culture in companies, HNIs are reinventing good times. For this, they hunt for luxury villas and apartments overlooking nature. The mesmerizing view of snow-clad mountains and sunset hues visible from the balcony is the best thing one can ask for.
The future is Bright for a Second Home Investment in Hill Stations
(Image Courtesy – ragaontheganges)
With both these demands being fulfilled at one location, the demand for top second home investment amplifies in mountain castles.
The road ahead for second home investment in hill stations is sturdy. With more planned development coming in Shimla, Kasauli, and other hill stations demand and property prices will surge.
Thus, capital value appreciation and wealth creation are on the cards for real estate investors in India.
