Several real estate industry experts feel that NRIs will find the current scenario in the Indian property market more conducive for investments. Some feel that NRI investors usually have more funds upfront for investments and are drawn towards competitive prices, attractive yields via rentals and a more favourable climate for investments in the country. This interest will only keep going up with home ownership in India steadily becoming a major priority for NRI buyers/investors. This is attributed to their growing interest in buying a retirement home for themselves or even purchasing homes for senior parents and other family members.
NRIs are also opting to purchase luxury holiday homes in popular destinations like Goa in recent times. This has become a major trend for buyers in this category who are looking at luxurious lifestyles along with better appreciation potential and rental yields alike. NRI investors also feel that real estate still remains a comparatively stable option for investments with comparatively reduced risks alongside.
The pandemic led to several NRIs wondering about investing in a property in their home towns or cities. They want bigger housing units which are near the city centres or even on the outskirts of the main cities with good facilities. The average ticket size has already gone up to more than INR 85 lakh as compared to approximately INR 70 lakh in the year 2016. Many NRIs are purchasing real estate from which they intend to draw handsome rental incomes and ensure better appreciation of capital as per experts.
Co-Founder and Head NRI Sales, Square Yards (UAE), Anupam Rastogi, feels that owing to more conducive rupee movements, there is more purchasing power now for NRIs in the Indian real estate market. They now want to uplift their standards of living through investments in luxury units which come with top-class amenities and facilities. They are majorly looking at luxury properties priced between Rs. 80 lakh and Rs. 3 crore across 2, 3 and 4 BHK configurations in major Indian cities. These are the categories which have witnessed increases in NRI inquiries according to him. NRI investors clearly prefer Hyderabad, Bengaluru, MMR, Delhi-NCR, Pune and Chennai.
