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Indians Investing in Oversea’s Property




Earlier, flying abroad was restricted to a few elite people in India; for the rest, it was a distant dream. Now, with the rise of the great middle class and higher incomes, more people are travelling abroad, for holidays and to study or work. The concept of buying a home on foreign shores is now gaining momentum. According to Raminder Grover, CEO, Homebay Residential, Jones Lang LaSalle Meghraj, many countries offer lucrative markets to foreign investors and encourage them to invest in properties. The top destinations include USA, UK, Australia, UAE, Malaysia, Thailand, France, Italy, South Africa and Spain.


Grover adds: “Because of the ongoing sub-prime crisis in the US, demand for property has reduced in many quarters there. There are a lot of properties without a ready buyer base, and prices have come down. The global credit crisis has caused similar scenarios in other developed countries. It is a good time for Indians to buy properties in such countries. Moreover, the property markets in developed countries tend to be more transparent than our own, so investors can get ‘clean’ deals much faster and easier. Grover also says, “Indians are currently buying property in the USA, Malaysia, Mauritius, Dubai, Singapore, the United Kingdom, Canada, Australia and New Zealand. The choice of country depends on whether they buy the property as a pure investment, for business operations or as a permanent residence or a holiday home.”





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