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News Posted On: 23 April 2009
Overseas property investors might be enticed to buy property in the suburbs of Indian cities, according to one expert.
Arindam Ghosh explained in an article for Write About Property that many Indians have left the country to work in nations with a strong currency, such as the UK and US.
This has created a greater market for luxury real estate as pounds and dollars go further in India and non-residential Indians can afford to purchase higher quality residences in their home country.
As a consequence, some of the middle classes in India have been forced to migrate to the suburbs where property is cheaper.
However, this has sparked development in these areas as there are reasonably well-off citizens can still afford to purchase good quality homes.
"Suburban India is a far better place to live in than it was a few years ago … This now makes the suburbs attractive to foreign investors," Mr Ghosh commented.
This comes after the Confederation of Real Estate Developers Association of India stated that the demand for residential property in the Asian nation is likely to rise in the future.
Written by Jamie Arthur
Overseas mortgages - keeping you updated with the best mortgage rates on the market
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