Last 18 months saw more Indians investing in Dubai’s real estate rather than buying properties within India.
Dubai Land Department’s data shows that the investments made by Indian nationals has touched Rs 42,000 crore in the last 18 months, which is an increase by 40% over previous three years. In 2014, the investments made by Indian was at around Rs 30,000 crore.
The interest in the same can be attributed to various reasons including attractive returns, ease of investing, high transparency, lower budget requirement and investment liquidity.
If an Indian invests in Dubai, there’s 8-10% returns that too tax free. A recent Knight Frank report had mentioned that from 2012 to 2017, Indian residential property buyers have seen an overall return of 49.3% in Dubai, the highest anywhere in the world.
With RERA and GST introduced in last 6 months, Indian property business is still undergoing transformation to become transparent and unlike the need for high capital to buy property in India, in Dubai some locations offer budget requirement which are far lesser, around USD 25,000 or around Rs 16-17 lakh.
Source – DNA