Real estate in India becomes cheaper for NRIs, due to rupee depreciation

10 Oct 2022 , 08:34 AM

In the US, UAE, UK, and Southeast Asia, real estate developers have resumed promoting high-end residences to investors and homebuyers as these markets begin to gain pace, in part due to the falling rupee.

Recent industry analysis suggests that NRI real estate investments in India could reach $14.9 billion in FY23.

A survey claims that NRIs make up the majority of India’s overseas UHNI population and that roughly 55% of those who own real estate there will also purchase a second property.

DLF, a developer of real estate, has also dispatched a team to Dubai, Hong Kong, and London in an effort to increase the proportion of NRIs who purchase ultra-luxury apartments.

According to a top DLF executive, who talked to ET, NRIs make up about 15% of Camellia’s buyers and have also expressed interest in the company’s most recent property, The Grove, which was sold out entirely in just eight days.

NRI homebuyers’ needs are met by India’s luxury housing market with products including ultra-luxury villas, villaments, sizable condominiums, and branded apartments.

Developers have begun organizing roadshows, taking part in real estate fairs, setting up exclusive partnerships with reputable channel partners, and launching digital outreach initiatives.

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