Its a good time to buy property overseas
The slump in global real estate markets has thrown open lucrative opportunities for Indian HNI investors. The near 25-35% fall in property prices in Australia, US, UK, South Africa and markets closer home like the Gulf and Singapore, has triggered a huge surge in demand from Indian buyers keen to invest in overseas property.
Realty brokers claim Mumbai and Delhi - which usually lead the pack in overseas property deals - are witnessing nearly 100% growth in such transactions since February with some 25-to-30 such transactions taking place every month. Brokers claim buyers in cities like Surat, Bhubaneshwar, Jaipur, Ahmedabad, Vadodara, Kolkata and Amritsar are also showing interest.
Its really a good time to buy property overseas since prices in most of these markets are even cheaper than in some top Indian cities. The demand is more in Dubai, Malaysia, Singapore, Thailand, Australia and London, C.B. Richard Ellis CMD (South Asia) Anshuman Magazine told ET.
More : economictimes.indiatimes.com