Singapore Back to Real Estate News Homepage to RSS for this country

SG Property News

SG Indians turn savvy on overseas property

Property Here - Wednesday, June 26, 2013

Share to:

More Indians are now keen to invest in overseas property, since the Reserve Bank of India (RBI) has increased the allowable money remittance abroad to US$200,000 (S$253,685) from US$50,000 (S$63,421) previously.

According to Knight Frank, they now receive 20 enquiries monthly compared to only four in 2011. Buying interest has particularly increased in London, where Indians are now among the top 10 home buyers.

“The slump in the market is special and investors should make use of such opportunities and try and purchase a property in overseas market,” noted Mona Jalota (pictured), Head of International Project Marketing at Knight Frank India, urging buyers to grab the chance to invest in overseas property now.

In a recent media interview, Jalota said, “Overseas property, stable markets like prime central areas of London, Manhattan, Kuala Lumpur, Malaysia offer lifestyle properties at excellent prices when you compare them to local Indian high end properties, they offer rental returns anywhere between five to eight percent.”

Image source: http://www.moneycontrol.com



Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg