Bangalore based entrepreneurs on the way of property investment in US

Bangalore : Most of the Indians mainly Bangalore based entrepreneurs are showing keen interest on residential property buying in United States for several reasons. Compared to last year, the investments by Indians those with Indian passports in residential property are augmented by nearly 50 percent.

Real estate analyst says “Bangalore based top executives, who have close associates with the United States are the biggest dissipaters”. National Association of Realtors (NAR) reported the most sought after cities of Indians for investment such as Los Angles, Dallas, Las Vegas and New York by quoting the information from realtor.com and moreover, Indians constitute the third biggest overseas community to buy residential property in the United States. In 2012-13, Indians invested $ 3.9 billion.Chinese purchasers topped, by investing a dumbfounded sum over $22 billion US, a growth of 80 percent over the last year, followed by Canada. United Kingdom bought as much as Indians, but the growth rate was lower at 38%.  By the end of March 2014, the Indians had invested about $ 5.8 billion where $3.9 billion noted in 2012-13.

The US banks implementing different norms to ease the property purchase and offering loans at an interest of 3.5 percent to 3.75 percent. Sudeep Chandran, owner of Terrafirms developers said “If you have a detailed work visa (usually for six years) with a good credit score, you can able to buy a home in the US without having an immigration status. Over the past four years, many of my friends are investing in American real estate market by purchasing the residential property in United States.”

Anshuman Magazine, CMD of property consultancy firm CBRE South Asia, said more Indians were investing in United States for several reasons such as better valuations, portfolio diversification and for personal reasons like their children staying in US for education.
The slowdown in the Indian real estate market is the main reason for a spur in buying activity in US, Mudassir Zaidi, national director at consultancy firm Knight Frank India added. Along with United States market many other markets like UK, Australia, Singapore, UK and parts of Europe are luring the attention of Indian residential property buyers.

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