Demand for Real Estate Shoots Up Thanks to Increasing Interest from NRIs

One of the fallouts of the COVID pandemic was that a number of NRIs, especially from the Middle East, have decided to return home or invest in homes back in the country. The pandemic and resultant lockdowns have given NRIs an impetus to bank on real estate in India. This has resulted in an increase in the number of enquiries in real estate, especially from countries of the Gulf Cooperation Council. This number was negligible earlier and now has risen to about 10 to 15 percent. A large number of builders have noticed an increase in interest from Gulf Cooperation Council based NRIs who are interested especially in integrated townships as these townships will offer them a lifestyle that they are used to in the countries they live in. Real estate development companies are now coming up with lucrative offers and e launches, which help attract these Gulf Cooperation Council NRIs and a number of real estate development companies have closed sales during the lockdown period. These companies are expecting sales to increase now that the lockdowns and pandemic restrictions have eased off. One factor that has contributed to this increased interest of NRIs in real estate in India is the fact that the rupee has been sliding in worth against the dollar. This has made investing in real estate in India lucrative and affordable to NRIs. Also, NRIs returning back home are looking to settle down and are interested in securing their future here by owning a house. This is another reason the real estate market is in the spotlight right now. Investing in real estate is a secure option that offers a sense of security to the investor and so even though there is the looming threat of job loss and issues with cash flow, real estate continues to thrive and be an asset that NRIs rely on as it offers them security and long-term benefits.

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