Indians Look to Snap-up Cheap Real Estate Abroad

The pandemic is likely to throw up opportunities both for second homes as well as investments which can be used for tourist rentals later. Added to that are the attraction of schemes which many European nations like Portugal are hawking, such as investor visas or citizenship which are issued if one makes an investment beyond a certain threshold. Consultancy firm Oxford Economics estimates that property prices have fallen in all major European countries except Germany. Prices in Southern Europe-in countries like Greece, Spain and Italy-were among those most impacted. Malta and Portugal have proven to be popular destinations they offer easy residence and visa programs with investment. Cyprus and Greece provide residence and Shenzhen visas for investments in real estate worth 300,000 and 250,000 euro respectively.  Others have similar programs with riders on investment in bonds or manufacturing. UK offers residence within two months on an investment of £2 million in the UK Investor Immigration Program.