Coimbatore is the main industrial centre in the state of Tamil Nadu after the capital city of Chennai. In the last few years many people have invested in Coimbatore property. The property websites in India also highlight that the demand of residential properties in Coimbatore has gone up steadily in the last couple of months. The demand of rent house too has seen a rise. Let us take a look at some of reasons why the residential properties in Coimbatore are attracting investors?
Employment hub: In the last few years the state government has promoted companies to open up offices here. The city now houses several IT/IteS companies. The state government offered various incentives to the companies and also offered them adequate and state of the art infrastructure. This has boosted inward migration which has increased the demand of rent house and the capital value of Coimbatore property. The property websites in India show that people are interested in investing in the city and the city’s property market has seen an upward boost in demand for residential spaces.
Affordability: The city offers plethora of affordable housing options. This is one of reasons why people from various parts of India look to invest in Coimbatore property. Some investors buy residential properties in Coimbatore so that later on they can rent house. If one searches property websites in India one can access a number of affordable residential properties in Coimbatore. The people looking for expensive options can look to invest in areas like Avinashi Road, Race Course, R S Puram, etc.
Investor's paradise: Since the properties of the city are affordable people find it very easy to buy a property here. Middle class people who already own a property often look at the city to purchase a second home. NRIs too consider residential properties in Coimbatore a good investment option as the properties of the city have given good price appreciation in the last few years. Coimbatore property market sees 40 % of property investments come from investors who are living in other cities. Investors browse through property websites in India and then choose to buy a property in Coimbatore or in any other lucrative city.
Retirement destination: The city is fast emerging as a retirement destination. God climate and property affordability is making the city a senior citizens haven. Many professionals are buying a house in the city so that later on it can serve as a retirement home for them.