NRI investment back in Indian real estate sector
The pandemic has played a significant role in changing the perception of home-ownership for all, especially for the NRIs who look to own a home in their native place
Real estate has always been an investors’ favorite asset class– domestic as well as international. The rich and famous desire to have their abode in other countries. It helps to set up an international base for their evolving business outside the home country. Over and above this, some recent events have altered the landscape for the real estate sector in India. The pandemic and the subsequent lockdown have disrupted the trend of purchase, rentals, and leasing of Indian real estate. As per a research report by CII-Anarock “Indian Real Estate Vision 2025, the softness in prices of real estate and falling currency lead by the COVID-19 pandemic has attracted a lot of investment from the NRI community” . As soon as the borders opened after the first lockdown last year, there was a remarkable uptick in queries on buying real estate in India showcasing a large demand for spacious homes that ensure the holistic well-being of the occupants
The pandemic has played a significant role in changing the perception of home-ownership for all, especially for the NRIs who look to own a home in their native place. Several state governments have announced measures to boost demand. Citing high-demand real estate developers have announced a slew of new projects. The resurgence of cases and the fact that the pandemic is here to stay for quite some time has made the NRI buyers cautious to make calculative decisions and opt for self-occupancy rather than renting out an apartment while traveling to their home country. This has been a key factor in driving sales and paved the way for buyers to return to the market
Uprising NRI investment in India
According to a report released by 360 Realtors, NRIs invested $13.1 billion in the Indian real estate market in FY21 and the inflow is likely to grow 12% to reach $14.9 billion in FY22. Apart from low prices, favorable currency movement, technology has played a key role in enabling NRIs to purchase property in India without being physically present, given the virtual tours organized by the developers, digital inspection of the property layouts, submitting documents, following paperwork procedures all at the click of a button
https://economictimes.indiatimes.com/nri/invest/nri-investment-back-in-indian-real-estate-sector/articleshow/88618629.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst