Anuj Puri, Chairman – ANAROCK Property Consultants Pvt. Ltd.
The real estate market in many countries offers very lucrative investment prospects, with various offers and options.
Apart from that, Indian citizens buying property abroad can often avail of citizenship in the host country. This factor has considerable aspirational value with many.
The aspiration factor aside, property in more and more locations within Indian metros has become enormously expensive. Moreover, interest rates for bank loans are already proving to be a stumbling block and may rise further with the future revision of RBI norms.
In comparison, an Indian citizen wishing to buy a property in New York, London or Singapore can avail of the considerably lower interest rates of local banks in those countries.
Also, many foreign property markets are more transparent than our own, so investors can get ‘clean’ deals much faster and easier.
Investment in property abroad makes sense for those who are employed or have business interests in the country of choice. Indians who have settled or are planning to settle abroad permanently are, of course, prime candidates.