What to expect in 2024 as NRI investments in Indian real estate skyrocket
real estate boom in India has created a new avenue for NRI investments. There is a growing number of houses being purchased by this segment. The growth in NRI residential sales, which rose significantly over the last year, underscores this point.
According to a report by NoBroker forecast report, NRI investments in India's real estate sector is poised to contribute 20% by 2025. This surge in demand can be attributed to several factors, both monetary and otherwise. Sentimentality has always been a key driving factor of NRI purchases in India, but with the world’s best comforts being available in India, the sentimental reason for buying a home “back home” amongst the NRIs, is also supported by valid reasons for quality real estate investing.
To make matters more compelling, the technological revolutions that the entire world has witnessed in the 21st century have now made it easy for people from any part of the world to invest in different parts of the world with minimal hassles. Not just that, the technology also makes it easier for buyers around the world to have access to information on a real-time basis.
While Mumbai and Bengaluru are the preferred destinations for NRI investors, other smaller cities have also been part of the real estate boom, especially the demand propelled by NRIs. With the availability of a cosmopolitan lifestyle, world-class educational institutions, and a thriving start-up ecosystem, real estate investment in Indian cities is quickly becoming a highly recommended investment destination.
