What is NRI’s Impact on Indian Real Estate?
As non-resident Indians (NRIs) continue to put money into the Indian property market with an increasing focus on long-term investment, it is expected that they will account for 20% of the country’s real estate sector investment by 2025, as per a report by NoBroker, one of India’s leading proptech unicorns. In the last 12 months, there has been an increase in the number of non-resident investors (NRIs) investing in the Indian property market. According to NoBroker, in 2019–2022, NRIs made up about 10% of total investment in the country’s property market. In terms of investment destinations, respondents to the survey preferred Bengaluru over Mumbai with 29% choosing Bengaluru and 24% choosing Mumbai.
Bengaluru’s cosmopolitan lifestyle, high-quality education institutions, and vibrant startup ecosystem have resulted in an increase in rental yield, making it an appealing investment choice for NRIs. Mumbai’s vibrant real estate market, with a mix of commercial, residential and luxury properties, continues to appeal to NRIs. What is the most preferred configuration? According to the report, 3 BHK units have become the preferred configuration for NRI buyers, surpassing 1 BHK and 2 BHK.
This reflects a preference for larger and more versatile living spaces. What are NRI buyers looking for in a property? 26 per cent of the NRI buyers are looking for properties with a budget of more than ₹ 1 crore. While NRI investments have seen an increase in recent years, challenges remain. The report found that 82 percent of NRI buyers cite information and transparency as major challenges when buying property in India. This highlights the need for better accessibility and transparency in the property buying process.
Source: Live Mint
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
