NRI contributions to Indian real estate surge over five years, to reach 17% by 2025

livemint.com:

real estate sector has risen significantly, with their investments steadily rising over the past five years, 'The NRI Real Estate Report 2023', by NoBroker.com showed. Between 2019 and 2020, NRIs constituted around 10 percent of the total real estate investments in India.

However, this figure has consistently increased, reaching 15 percent today, as per the survey report. It further projects that by 2025, NRIs are expected to contribute to 17 percent of the Indian real estate market.

Also Read: Mumbai’s real estate registrations surge during festive season "This surge is chiefly driven by a confluence of factors such as increased rental yield, the continued depreciation of the Indian rupee, favourable government policies, and the resilience shown by the Indian real estate sector in the face of adversity. These investments are not solely motivated by financial considerations but are also deeply influenced by the emotional bonds that NRIs maintain with their country of origin," said Saurabh Garg, Co-founder and Chief Business Officer at NoBroker.com.

Top Investment Destinations: Bangalore and Mumbai have emerged as preferred destinations for NRI buyers due to factors like a cosmopolitan lifestyle, thriving startup ecosystems, and dynamic real estate markets. In fact, Bangalore is the top pick for 29 percent of NRI investors, closely followed by Mumbai, preferred by 24 percent of NRI buyers.

Also Read: Want to become a successful real estate investor? Here are 9 key strategies Shift in Demand: Demand for 3BHK units has surpassed that for 1BHK and 2BHK units, reflecting the preference for more spacious living spaces. The demand for holiday homes has also increased in the past year, with property management services gaining