Indian real estate sector has been under immense pressure due to the impact of demonetisation. Indians do not have any appetite now for more real estate buying due to limit set on withdrawals and amidst the fear of scrutiny by Income Tax Department.
Amidst such a scenario, sale of real estate price will be very steady as traders and small businessmen are the chief property buyers who actually face the cash crunch. It is not showing any sign of improvement in the coming four to five months.
It is right time for Indian Developers to target expat buyers in Dubai. Though it is a time where Indians fear to tread, it is a boon for the expat property buyers. NRIs, WHNIs, HNIs and other expat property buyers will get more out of their investment, if they become the early movers.
Looking at the current property prices which is relatively low. It is expected to fetch good returns for the buyers who are looking for an investment option in the long run.
Sale of real estate in Tier I cities will not be impacted much as developers do transparent business and follow corporate governance. However, sale will be highly impacted in the Tier II and Tier III cities where some part of the transaction are done in cash.
Why Should Indian Developers Target expat investors in Dubai?
- At the moment, Indians do not have the appetite for buying for properties. Dubai has the good amount of Indian population who continuously invest in India.
- A huge chunk of NRIs, HNIs and WHNIs and other property investors reside in Dubai.
- Geographical proximity of Dubai to India is another reason.
- Under recent government, there is a high level of transparency in real estate sector in India which will help developers to convince investors in Dubai
As an real estate expert, we can assure you that real estate investment in India seems to be a good investment option for investors looking for a long term perspective. The current worries will be short term. If Indian developers are looking to increase their sale, they need to showcase their real estate inventories in Dubai through a right medium.
As per the current advertisement regulations in Dubai, property developers abroad need to have an association with a RERA certified agency in Dubai to promote their inventories. Riveria Global is a renowned RERA Certified agency in Dubai which has been helping Indian Developers to advertise their real estate inventories successfully and efficiently in Dubai.