Hartlepool, United Kingdom (PressExposure) March 26, 2009 -- Affordable housing in India is one of the best investments for 2009 an industry expert has claimed. Les Calvert, director of Property Abroad said that demand continues to grow in advance of supply for such housing as India's middle class continues to grow. He said:
"The [Indian] middle class continues to grow, new industries like graphic design continue to see massive growth, and millions of university graduates are finding jobs or starting businesses and looking for affordable housing to buy and rent."
Calvert went on to explain how the massive decline in demand for high end luxury developments, which is what many developers had focussed on, has left many developers in trouble, and the ones that can survive are turning to affordable housing in order to do so, he said:
"Previously the luxury housing market in India was where the big money was to be made, and most developers focused their efforts there, now, those developers are struggling, and the ones that are able to survive are turning their attention to more affordable developments where there is the greatest need for more affordable housing."
Liam Bailey, director of Write About Property and well known global markets expert shared Les's belief in the investment potential of affordable housing in India, he said:
"Demand for affordable housing in India's emerging regions is growing far more rapidly than developers can keep up with; not least because the need was practically ignored during the luxury property boom and demand was building greatly during that timeâ.
"Areas to focus on are those surrounding special economic zones and places where the new growth sectors are centred; my favourite will always be Bangalore, India's Silicon Valley."
Property Abroad are currently advertising dozens of properties for sale in India, find out more by visiting the site.