Over the past decade, there has been a substantial increase in investments from Non-Resident Indians within the Indian luxury real estate sector. NRIs, who possess deep emotional and cultural ties to India, are increasingly exploring opportunities to invest in high-end properties in their country of origin.
Real Estate is Influenced by NRI’s Style
This heightened NRI interest has had a noteworthy impact on Mumbai’s luxury real estate market. Though precise statistics may vary, experts estimate that NRIs account for approximately 20–25% of the total investments in luxury housing within the city.
Recent findings indicate that the sale of luxury housing in Mumbai has experienced consistent growth, with a nearly 50% increase to reach Rs 11,400 crore during H1 2023. This upward trajectory underscores Mumbai’s popularity among homebuyers when compared to other cities.
NRIs often maintain a profound emotional connection to their homeland. Investing in Indian luxury real estate offers them the opportunity to nurture this bond, acquire property in a familiar location, and foster a sense of belonging.
For NRIs contemplating investments in the Indian luxury real estate sector, it is imperative to conduct thorough research, seek expert counsel, and stay updated on market trends and regulatory shifts.
With meticulous planning and well-informed decision-making, NRI investments can contribute to the expansion and enhancement of the Indian real estate market, all the while providing NRIs with a tangible link to their home country and the potential for financial gains.
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