Mumbai is the preferred location for real estate investment by non-resident Indians living in the UAE, say reports.

Mumbai is the preferred location for real estate investment by non-resident Indians living in the UAE, according to reports.

Around 27 per cent of NRIs chose to invest in Mumbai, said a survey conducted by Sumansa Exhibitions, the organisers of Indian Property Show, cited by Zawya.

In second place is Bangalore, with 17 per cent preferring to invest in the city in the coming three to six months. Delhi & NCR, Pune and Chennai are the other three cities which featured in the top five.

Around 14,000 NRIs across UAE participated in the surve.

"In the recent times, there are more people looking at buying a second property purely from an investment point of view, and in this case, choosing the right city and location is very important,” said Sunil Jaiswal, chief executive of Sumansa Exhibitions.

“Buyers' focus is primarily on properties that have potential for assured rental yields and capital appreciation. Mumbai enjoys commercial prominence, location advantage and increasing wealth, hence it continues to remain the investor's favourite.”

“Bangalore sales market witnessed increased demand levels both from end-users as well as the investor community. The survey actually points out that Mumbai is looked for quick capital appreciation whereas Bangalore is more for ownership and better lifestyle. Delhi NCR region and specially Gurgaon, have registered substantial price appreciation in the range of 20-25 per cent, whereas several locations in Delhi are expected to rise over next few months," he was quoted as saying.

The study further indicates that most NRIs are looking at apartments as compared to land, villas or commercial properties.