Famous Countries Where Indians Can Buy Home Abroad
Famous Countries : Wealthy Indians have been compelled to diversify their property holdings abroad as a result of the Ukraine-Russia crisis, global economic uncertainty, and pandemic aftereffects. Additionally, a respectable rate of capital growth and consistent rental income support the trend of investing abroad. A list of nations with policies that encourage foreign investment and home purchases by Indians is provided by navimumbaihouses.com.
According to recent reports, wealthy Indians are making record-breaking investments abroad. The Reserve Bank of India (RBI) reported that Indians invested roughly $1.7 billion in equity, debt, foreign bank deposits, and foreign real estate during the fiscal year 2021–2022.
This figure represents an increase of about 40% from the FY 2020–21 figures. Additionally, this amount was only $292 million in FY 2014–15. The COVID-19 pandemic and the uncertainty it has caused at home appear to have increased the trend of elite Indians investing abroad. Toronto, Sydney, Dubai, and London are just a few of the foreign cities where Indians are permitted to purchase real estate.
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Famous Countries Where Indians Can Buy Home Abroad
Famous Countries : United Arab Emirates (UAE)
Due to its proximity to India, Dubai, United Arab Emirates, is one of the most popular locations for High Net Worth Individuals (HNIs) to invest in real estate (about 3.5 hours flight away). The fact that India and many nations, including UAE, have DTAAs (Double Taxation Avoidance Agreements) makes it easier for Indians to invest in UAE real estate.
The DTAA is a tax agreement signed by India and other nations to prevent double taxation on income earned in both the source and the residence countries. Following the pandemic, Dubai’s real estate trend has gained more traction. Indians have been drawn to Dubai for a variety of reasons, but the ease of doing business, first-rate infrastructure, tax advantages, and residency visa options have been the most widely cited ones. In addition, the region’s demand for residential real estate has been boosted by the new Golden Visa rules. In areas like Meydan One, Dubai Creek Harbour, and Business Bay, the most popular emirate among Indians, a two-bedroom apartment can be purchased for around Rs 80 lakh.
Famous Countries : Canada
Indians are permitted to purchase homes in Canada, where many people relocate for higher education. Canada’s three most popular real estate markets are New Brunswick, Ontario, and Manitoba. In these areas, home prices range from about Rs 4 crore to Rs 7 crore. Additionally, Canada ranks 12th out of 163 nations in the 2022 Global Peace Index as one of the safest and most peaceful places to live in the world.
Famous Countries : Thailand
Land can only be yours in Thailand for a maximum lease of 90 years. The maximum lease term is typically 30 years, but it can be extended for an additional two terms. The nation’s beautiful beaches and tourism sector are well-known. In the well-known beach city of Pattaya, a three-bedroom home costs roughly Rs 70 lakh. A three-bedroom house in Bangkok’s capital could cost around Rs 80 lakh. Rules for real estate investing are, however, different for individuals and foreign-owned businesses.
Famous Countries : Australia
Before investing in real estate in Australia, you need to get approval from the Foreign Investment Review Board (FIRB). According to reports, over 35% of Indian residents of Sydney and Melbourne are willing to spend more than Rs 4 crore on a home. Melbourne is included on the list of the world’s most livable cities. 2 BHK configurations start at roughly Rs 1.5 crore and are the most common in Australia.
Singapore
The real estate market in Singapore is very pricey, and a foreigner needs government approval if they want to own “land” alongside the property. In Singapore, buying an apartment is typically simpler than buying land. The average home price in Singapore is Rs 32–70 lakh for a 2 BHK unit, which is the most sought-after by locals. The majority of the apartments include features like parking, recreation areas, and concierge services.
United States of America
An “Individual Taxpayer Identification Number” is accepted by the USA for non-citizens to use when purchasing real estate. Indians frequently invest in Florida, New York, and California in the United States. Indians are listed as one of the top five nationalities investing in real estate in the nation. According to numerous reports. In the aforementioned American cities, the cost of real estate starts at about Rs 3 crore for a three-bedroom configuration.
Malaysia
One of the South-East Asian countries with the best business environments is Malaysia. In contrast to its neighbours, it does have a few limitations on foreign ownership of land. The property markets are well-regulated and easily accessible to foreigners. However, Malaysia prohibits foreign investors from purchasing heritage properties or colonial homes. In Malaysia, a two-bedroom house costs about Rs 80 lakh.
Portugal
An investment in real estate worth at least EUR 5,00,000 qualifies you for a Golden Visa under Portugal’s residency visa programme. A person may also apply for a permanent residency programme if the investment is made for more than five years. Benefits of a Portuguese visa include direct and simple access to other EU member states and the Schengen area. For a two-bedroom home, the average price in Portugal is around Rs 2.2 crore. In Portugal, villas and apartments tend to be the most popular types of housing.
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