The current pandemic has paved way for a lot of NRIs returning to their home countries. This has led to the need of owning a house in their native countries.
With a weaker rupee and lower interest rates for housing loans there has been a surge in NRI investment in real estate sector according to the data available with NoBrokers.com.
To understand the trend of NRI home buying activity amid Pandemic, NoBroker.com surveyed 700 NRIs using phone and email interaction. Through this survey it observed that the NRI’s prefer larger homes in integrated townships, which offer lifestyle features similar to what they have experienced while being expatriates in a foreign country.
This populace is either investing in ready-to-move properties which reduce the construction risk. The survey data shows 40 per cent growth in interest in gated community in past one year in Mumbai city. As gated communities offer more security, ease of living. Nowadays, due to the pandemic that has spread, safety is paramount and gated communities are more in demand not just by NRIs but even by non-NRIs.
SOURCE: FREE PRESS JOURNAL