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DNMUM391138 | 6/24/2017 | Author : Mona Jalota | WC :709 | Business & Economy

Expert Speak: The Second Homes concept has become more attractive with lifestyle facilities and the scope to earn through rentals as well
DNA PROPERTY
The concept of holiday homes or vacation homes or second homes is fast catching up as a niche housing segment in India. It is estimated that the second home property market is growing at 10%-12% per year as more and more people seem to buy a home for vacation purposes. On an average, vacation homes in India consist of about 5%-8% of the total home sales. In the past, second homes used to be the privilege of the rich and well to do families who looked at purchasing land or bungalows at either a vacation spot close to their primary residence or near their place of pilgrimage.
Today, majority of the second home-buyers are people of the upper-income segment between the age group of 25 and 50 years, including NRIs, retired governmen
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