The real estate sector is galloping. It is attributed to the depreciation of the rupee on the one hand and increasing NRI investments on the other.
The NRIs property search traffic has increased by 117% during January–June 2022 compared to the search traffic during the corresponding period in 2020, according to statistics provided by Anarock Consultants.
The NRI investments in the domestic property market have gone up by 15% in the first half of the current year compared to the NRI investments during the same period last year.
The NRI investments are expected to grow during the current festival season. Most of the investments are routed to India from Gulf states.
However, prominent developers in the UK, Singapore, UAE, Saudi Arabia, and Australia have slashed property prices and announced several attractive offers to attract NRI investments.
In the Hyderabad market, too, the sale of properties has increased. The NRIs are keen to invest in the Hyderabad market, as Hyderabad has emerged as a good destination for investments.
