 "Mumbai real estate, Mumbai housing")
With the real estate market in India in upcycle, one segment that is witnessing rapid growth is second (including retirement) homes. A recent report by 360 Realtors says this segment is likely to grow at a compound annual growth rate of 23.6 per cent over the next five years.
Goa, Alibaug, Lonavala, Coonoor, Ooty, Kasauli, and Shimla have emerged as the second home hotspots within the country.
Several factors are driving this demand.
With many companies willing to offer at least some of their employees the option to work from home permanently, many people are investing in a second home in places that
