Second homes, an investment trend

While a large section of India’s population is still struggling to have a roof over their heads, and crores of citizens are buying their first homes in their 30s — entering into loans lasting years and paying EMIs until retirement — in contrast, another segment of wealthy individuals is buying second or holiday homes. These are in picturesque locations across the country: some to upgrade their lifestyle, some for peace of mind, and others to work in tranquility. According to analysts, this trend is accelerating in the post-pandemic era. Topping the list of second home destinations is Goa, followed by the Himalayas, the Sahyadri Hills, and Coorg in the South, with specific hotspots including Mussoorie, Rishikesh, Shimla, Kasauli, Mashobra, Alibaug, Lonavala, and the Nilgiris.