Did you know that non-resident Indians have already invested $13.3 billion in the Indian real estate market in FY 21?
According to 360 Realtors, investment volume increased by 6.4 percent over the previous fiscal year and is expected to increase by 12 percent to $14.9 billion in FY22.
𝗕𝘂𝘁 𝗵𝗮𝘃𝗲 𝘆𝗼𝘂 𝘄𝗼𝗻𝗱𝗲𝗿𝗲𝗱 𝘄𝗵𝗮𝘁 𝗶𝘀 𝗮𝘁𝘁𝗿𝗮𝗰𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗡𝗥𝗜’𝘀 𝘁𝗼 𝗶𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗜𝗻𝗱𝗶𝗮𝗻 𝗠𝗮𝗿𝗸𝗲𝘁?
The rupee’s depreciation against the dollar has generated a lot of interest among NRIs, resulting in an increase in real estate sales in India. The Indian Rupee falls to a record low of 78.08 against the US Dollar because of the global geopolitical crisis following the Russia-Ukraine war and tight monetary policies by the US Federal Reserve. The drop is also being attributed to rising crude oil prices and overall dollar strength.
Until now, the Indian rupee has fallen by 5.2 %.
Real estate has always been a wise investment for Non-Residential Indians who intend to return home after retiring. This industry in India has seen a surge in interest from NRIs following the demonetization and adoption of RERA. Demand and inquiries from other foreign markets have begun to increase, in addition to the UAE.
The UAE and Saudi Arabia, both have substantial Indian populations and peg their currencies to the dollar. This indicates the rupee has deteriorated in value against them at the same rate as the dollar
NRI Homebuyer’s interest has grown across all segments, from mid-income projects to premium and luxury segments and planned developments.
Furthermore, whenever the rupee depreciated, NRIs preferred to consider real estate as a good investment because it meant more purchasing power for them in India.
“We are seeing a lot of traction from NRIs in the Gulf, which is traditionally a strong market for us. In addition to this, we are also witnessing strong demand from Singapore and Hong Kong as well. Over 30% of our business so far this year has come from NRIs in these markets, apart from London and Malta,” said Dhimaan Shah, founder & chief operating officer of luxury holiday home developer Isprava Group.
While the US dollar remains strong against the rupee, Indian real estate has been booming, with strong sales in key markets. This is an opportunity for #NRIs who want to invest in properties, all they need to do is pick their properties wisely and invest for the long term to reap significant returns once the market stabilizes.