NRI Investors Influx in Indian Realty
Historically, the major demand driver for NRIs investing in Indian real estate was their eventual inevitable return to India. The general sentiment of a post COVID-19 reverse exodus to India has thrown this driver into sharper relief. Also, the lockdowns and increased focus on work from home (WFH) have caused a lot of introspection on how much home is required to accommodate both the family and a home office. Not surprisingly, ANAROCK’s consumer sentiment survey highlights than the highest demand is currently for mid-income housing which offers the requisite space. Today, NRIs are viewing properties in India from their homes via virtual site visits, speaking to developers and channel partners through video conferences, and paying booking amounts through online digital platforms. Digital assets have become a crucial enabler for deal closures, with an increasing number of developers now swearing by this process. In ANAROCK’s survey conducted during the pandemic, 48% respondents preferred residential real estate as their best investment option. 50% of the respondents in this survey also affirm that they see this as the best time to invest in homes. Prices are at an all-time low, home loan interest rates have gone below 2008-09 levels, and the perception of housing as the most viable – and indeed the only usable asset – has never been stronger. For NRIs - the focal point of lucrative real estate deals and the primary beneficiaries of the rupee’s depreciation of almost 7% since January 2020 - the time to invest in the most tangible and rewarding asset in a post-pandemic world has never been better.
Tags : News/Views Latest News Indian Realty ANAROCK COVID-19 NRI Investors Influx lucrative real estate deals Digital assets return to India