Riding high on improved market sentiment, especially after the Narendra Modi government took charge in late May, more and more investors are going for real estate compared to stocks and gold, according to a survey.
Nearly 67 per cent of respondents in the survey preferred to invest in real estate compared to only 18 per cent in stocks and and just 15 per cent in gold, India Property said.
The property portal surveyed 2,583 people, of which over 30 per cent were above the age of 46, while 40 per cent in the 25-35 years bracket.
"With a new government at the centre, sentiment across sectors seem to be positive and real estate is riding the wave. Investors expect the first budget from the Modi government (due next week) to favour property seekers with reduction in home loan rates and a sector regulator, besides providing a boost to infrastructure segment," the property firm said in a statement.
According to the survey, nearly 79 per cent of the respondents are looking at the realty sector as a long-term investment option. Also, Mumbai tops the chart for property investment followed by Bangalore, Chennai, Pune, Kolkata, Delhi-NCR and Hyderabad.
Investors also feel the property prices will go up in the next two years, it added.