New airport to make difference to Mumbai property investment

Plans to introduce a second airport in Mumbai are expected to have a positive impact on the local real estate industry, claims a leading property company.
Property-Abroad.com believes that the new transport link will further encourage house price growth and provide a number of new opportunities for overseas investors.
Les Calvert, director of Property-Abroad.com, explained that the airport will open up the area and provide better links for prospective holidaymakers.
"At the moment obviously it's not as easy to get to as it could be. But once airports have opened up, as it historically shows … property prices tend to sort of shoot up around the airport. It's a catchment area," said Mr Calvert.
The new airport will be built in the Kopra-Panvel area of Mumbai, India and will be able to welcome around 4.5 million passengers in its first operational year of operations, rising to around 30 million by 2030.
06/07/09 Holiday Lettings, UK

To Read the News in full at Source, Click the Headline

Categories: Airports Sep 2007, New Sep 2007