Despite the slowdown due to COVID, the Indian real estate market is a favorite investment for many non-resident Indians (NRIs). The growing economy, favorable conditions in the market, and price stability are some of the factors that are luring investors. There is confidence among NRIs about political stability in the country, reflected in an increase in the number of investments.
While earlier, the majority of home investors were older individuals, today, the trend has shifted. More and more young investors are looking to invest in their country of origin. Given below are the five reasons why young NRIs invest more in Indian real estate:
• Investing in India gives young NRIs a feeling of being in touch with their origins and closer to their roots. Being close to the country and people gives them a feeling of belonging. A number of young NRIs have dreams of eventually settling back down in the country.
• The residential real estate sector in India has experienced exponential growth in the recent past. The profitability in the industry makes investment in reality in the country a good financial decision, especially for younger NRIs. This is a long-term financial asset that will definitely reap good rewards.
• Investing in real estate in India assures young NRIs of assured passive income in the form of rentals. India has a growing working population, and there is a huge demand for rental residences. Young NRIs are buying properties in India and renting them out, earning significant amounts of income.
• Real estate in India is still relatively affordable for young NRIs and is attracting increasing numbers of investors. The difference in the value of currency between India and their resident countries makes this a lucrative investment.
• The government has implemented several favorable schemes and policies aimed at maximizing NRI investment. These have been an added incentive for young NRIs to invest in the Indian real estate sector.
Prestige Group prelaunch apartment is Prestige Serenity Shores.