Demand for homes in Bangalore to be driven by NRIs

The outbreak of COVID-19 has a deep impact on the real estate market in India.

The Indian economy is declining day by day. Apart from this no denying fact, the Indian real estate market is witnessing high demand for houses from NRIs. There are many houses for sale that are ready to move in. But COVID-19 caused delays in bookings and shifting.

The real estate Industries faced a decline in demand at the end of March and at the beginning of April.

The real estate industry has become an attractive asset class with improved affordability in the current situation, and healthy relative return that has attracted the attention of both NRIs and the locals across the world.

There are many properties for sale that are vacant and both locals and NRIs have an eye on them.

NRIs coming back to the homeland!

We can say there are many reasons attached to the coming back of NRIs to the homeland like, the widespread of novel COVID-19, and the strength of the dollar against rupee that has provided them ease to buy the expensive home at a lower price.

All of a sudden many builders and developers are experiencing a sudden rise in inquiries from international buyers amid this lockdown.

Now, the builders are planning to build or open properties for sale.

Investments in India!

As we all know that the whole world is blaming China for the widespread pandemic coronavirus, many industries are planning to invest in India.

Not only IT companies or marketing companies but many business firms who have buildings and construction work are also going to invest in India.

Even many NRIs are going to invest in the real estate business to get advantages and benefits from the industry. The reason behind NRIs investment in real estate is that the whole world is suffering from losses and many have lost their jobs and we don’t see any upcoming job opportunities in the near future.

There are assumptions that NRIs investments in India can hit $13.1 billion in the financial year 2021.

Bangalore can be the investment hub for NRIs

NRIs are moving towards Bangalore for investing in real estate.

Bangalore is one of the smart cities in the country. It is highly developed, peaceful, and popular for its green environment. Many offices are based in the city that enables Bangalore to update with new and upcoming technologies. Bangalore has less noise of hustle and bustle.

There are many houses for sale, luxurious properties for sale, and a comfortable apartment for sale in Bangalore. Many of them are fully furnished and ready to move in.

Also, NRI customers are looking for a great property with a reliable brand name. Bangalore offers credible developers with a proven legacy to deliver on commitments that boats advantage in today’s real estate market place.

Investment sources

These NRI investments are coming from the USA, UK, UAE, and Canada. Apart from this 42% of total inflow is coming from the Gulf Cooperation Council (GCC).

According to the ministry of external affairs around 8.9 out of 12 + million Indians are living abroad are based in West Asia, 2.6 million in Saudi Arabia, 3.3 million in the UAE, and 2.9 million in Kuwait, Qatar, Oman, and Bahrain.

Around 40 billion dollars annually is contributed by GCC as International remittance to India.

Tech-enabled real estate can attract more international clients

Amid pandemic COVID-19 lockdown many international clients are dependent on tech-enabled real estate firms that can satisfy their demands and needs via online meetings and conferences.

Digitally enabled sales tactics to help in empowering brands to replicate physical interaction and create an evocative experience.

The post COVID world will focus more on technology and digital form of engagement. Only those organizations can align themselves to this new all to reality who are adaptable and strong at Core can survive with this wave and come out to be tougher.

We welcome NRIs in Bangalore

There are many luxurious properties for sale, beautifully furnished houses for sale, comfortable apartments for sale, and in Bangalore. We all will be waiting for NRIs to return back to their homeland and invest in real estate in Bangalore.

This will also help in balancing the Indian economy and will improve the situation of the real estate industry.

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