Bangalore based entrepreneurs on the way of property investment in US

The NAR Report, “Acquiring a US property remains affordable with prices still below the peak level reached prior to the Great Recession (December 2007 to June 2009). Indian buyers spend a large chunk of amount around $459,028 (it means 2.81 crore) for the purchase of US property, this lowers the prices of premium homes in India’s top metro markets – Mumbai, Delhi-NCR, Chennai and Bangalore.

Anuj Puri, chairman and country head of property consultancy JLL India says “In United States number of residential units are apprehended by institutional investors, who had bought the residential units during crisis years from concerned sellers, as foreign buyers feel very easy to buy from such institutions than individual US home owners.
Bangalore’s large senior management in IT and Technology who has close connections with United States are the top most spenders in American real estate. Few work in US based multinational companies in India and many other work in IT services companies for whom the United States is the biggest market.

Farook Mahmood, president of the World Council of Brokers, has helped in referrals for no less than six Bangalore-based buyers who are looking to buy homes in New York, Miami, and the Bay Area. Mahmood, who is also the CMD of Silverline Realty, says that these buyers either work in the US on a posting or travel to the country frequently.

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