Downfall of the Indian rupee stirred the property interests of expat Indians residing in the UAE. Now they can buy real estate worth even more than a 10 million rupee in India.
A recent report showed that almost 90% of the non-resident Indians in UAE have the intention to put their money into real estate investments back home in order to improve their income.
The conditions of the market are more than good. The dirham now is more powerful than the weakened rupee. Also, the slow pace of actions in the property market makes the real estate investment much cheaper.
A survey conducted by Sumansa Exhibitions, organizers of Indian Property Show in UAE, recently found out that more than 26% of expat Indians want to buy real estate as an additional investment. This is a 6% up from last year’s results.
The most preferred destinations for property investments are Delhi, Mumbai and Bengaluru. Non-resident Indians look for real estate investments, because they bring good return of the capital plus they believe that property is a safe haven.
Also Indians (as all other expats) are not allowed to get citizenship in UAE and property is a common choice of investment due to nostalgic desires to return back home.
The preferred cities are evidence that most expat Indians are looking for locations which will have best investment returns. Investors who opt for mortgages can make good profits as the rates are now lower. So, a weaker rupee definitely means a great time for real estate investments.
During the last year, more and more Indians who reside abroad tend to buy expensive property back home. Their aims are mostly put on larger cities which in 5 year term will bring back invested capital.
Expat Indians still choose real estate as the most popular field for investment and asset creation. They are waiting for the time when it is best to enter the real estate market and constantly search for a good developer. A property of good quality built by a developer with a reliable record is what Indian expats search for. And the price of course is a key factor.
Property investments in India is one of the slick moves on the market these days. The chance of of a loss is minimal with the ever-expanding population in the country. The crippled rupee is luring expat Indians to put their money back home. If the scales keep their measures, in a 2-3 year term the capital return could reach up to 30%.