A favourable time for NRIs to invest in Indian real estate
May 12th, 2020
Businesses across the world are weathering tough market scenario due to COVID-19. In times like these, smart investment choices are required to reap long-term benefits. Real estate stands out as one of the most stable choices right now, especially in India. This is why NRIs are watching the Indian real estate market closely for their next investment.
Why should NRI’s invest in India now?
The Indian real estate market has always been an attractive investment destination for the NRIs, especially among the huge Indian population in the Middle East. Most NRI investments in India are driven either with a hope to return to India or at least owning property in their homeland. Some look at it predominantly for investment purpose, while others buy homes in India for their family or retirement.
With the depreciation in the rupee’s value against dollar in the light of the pandemic, NRIs have acquired greater purchasing power. This gives them a perfect opportunity to invest in real estate rather than keep money in the bank, which will fetch very low returns. According to a survey in 2019, nearly 63% of NRIs preferred real estate over any other investment in India. Moreover, the developers are expected to roll out attractive offers attractive offers and schemes on real estate purchase. This along with the increased transparency in the post-reforms era will help fuel NRI investment in the Indian real estate market. Further, technology is facilitating reaching out to a larger NRI audience, allowing virtual tours and digital booking of homes.
Some of the prominent markets for NRI investment include cities such as Bengaluru, Mumbai, Delhi-NCR, Chennai, Hyderabad, Ahmedabad, Pune, Kochi and Coimbatore. In general, NRIs prefer to invest in luxury/ super luxury projects across apartments, villas, row houses and plotted developments. These days, many are also looking at investing in affordable luxury segment/compact luxury housing.
The reasons for purchase of residential property by NRI community may vary but the time has to be right – it is now!
Invest right, invest in a SOBHA home.