Like every other sector, real estate also has been severely impacted by the pandemic. With sales coming to a halt since March, and construction activities yet to resume in full swing, developers are an anxious lot. Recently Hirav Shah conducted a webinar discussing Indians investing in properties overseas.
Mr. Hirav Shah, the Astro Strategist cum Business Astrologer, has been working closely with many of the leading Developers, Infrastructure, and Real Estate giants of India, USA, etc as a Real Estate Strategist, Real Estate Investment Advisor and has been actively involved in providing concrete predictions through Real Estate Astrology and Property Astrology. These days, Hirav Shah is also working with India’s leading builders and real estate developers mainly from Mumbai, Delhi, Bangalore, Chennai, Ahmedabad, Calcutta, and small Builders from small cities, etc for their existing and new projects to help them out, increase certainty, and to make strategies.
Talking about investing in the real estate sector, Hirav Shah says, “The security associated with owning a physical asset during such a crisis like COVID has resulted in increased demand.”
He says, “There has always been a growing fondness among Indians for overseas real estate investments. The growing presence of Indian investors in commercial and residential neighborhoods abroad has piqued the interest of stakeholders in the International Property Market.”
What is making Indians invest abroad?
Hirav Shah answers, “Several factors make acquiring an overseas property more attractive than a domestic one. The most common reason is the slow and sluggish real estate market in India. The overall high pricing in India’s metros, various government policies, poor growth potential, inferior infrastructure, and bad rental returns are some other factors.”
He explains, “To cite an example, for a sum of Rs. 45 lakhs, a property investor can purchase a fully-furnished condominium in Malaysia or Thailand, and that too at a prime location. Not only does this offer a great lifestyle but also an opportunity to earn at least 10% net rentals. On the contrary, the same amount would only fetch a 1 BHK somewhere in the outskirts of New Delhi or Mumbai.”
Explore the whole world
Hirav Shah tells, “High Net Worth individuals are opting for property options overseas instead of buying a holiday home in the hills or near the beach in India. Getting a premier property in a tourist destination would cost the same as a 2 BHK in prime locations of Delhi and Mumbai. The slowdown in the UK and the US economies in the last few years also have made real estate prices there more affordable.”
“Another major factor, besides the lifestyle and rental returns, for Indians to invest overseas is their children who are studying abroad. Also owning a second home overseas is not just a good investment, but the home itself can be handed over to professionals for maintenance and rent.”
“Some markets overseas are more attractive to investors than others. Malaysia is one such hotspot for Indians. Another favorite is London where the current economic slowdown is making property valuations lower, as per The Entrepreneur.”
Hirav Shah also reminds, “Also, the Liberalized Remittance Scheme for Indian launched by the RBI has increased the overseas remittance limit which has helped Indian investors buy properties overseas. Many foreign markets function in a more transparent manner with lesser bureaucratic red tape thereby making them more attractive to Indian investors.”
Some countries offer citizenship to investors
Hirav Shah informs, “Certain countries in the world offer Permanent Residency and citizenship benefits if you own a property there. Hence, real estate investment could be a good way for aspiring immigrants to gain easy access to residency.”
“Foreign realty markets demonstrate higher rental appreciation and unlike the Indian market, they have a higher capital appreciation per year. Most of the foreign markets are mature and stable and hence you would be able to enjoy capital appreciation.”
Hirav Shah answers the last question, “Why does it make sense to buy a home abroad today?”
He says, “The strengthening of the Indian Rupee against several global currencies has made investments in overseas homes more affordable than a year ago. Resident Indians buying homes in the UK, Cyprus, Malaysia, and Dubai today would find property cheaper than a year ago. This is despite property appreciation in residential markets across Cyprus, UK, and Malaysia. So considering all the factors, this is the right time to invest in properties overseas.”
Hirav Shah who is an eminent Real Estate Astrologer and real Estate Investment Advisor himself advises Indians who want to invest in foreign properties to take advice from an efficient and proved Property Astrologer who can give property buying advice on the basis of date of birth and horoscopes and with the analysis of the property and also can tell the good and bad aspects of the property you are interested in.. He can also tell about the chances of losing property and risks involved in the investment. An astrologer can also predict what would be the best time for you to buy a house of your own.