Rate hikes or not, Indian expats in UAE keep adding to property investments in India

Rate hikes or not, Indian expats in UAE keep adding to property investments in India

Dubai: Indians – residents and NRIs alike – are buying up property. And they are not prepared to wait. It doesn’t matter whether mortgage rates are high, property values are gaining by 9-10 per cent, and the job market still has some way to go before it can reach relative stability. When it comes to buying a home (or any other sort of real estate asset that catches their interest, Indians are buying for the moment. They have been helped by the Reserve Bank of India (RBI) no raising the interest rate for a second successive time, meaning that mortgage buyers will not be feeling a bigger pinch. That too is good enough. This demand will come to the fore again as the ‘India Property Show’ opens today (June 10) at the Dubai World Trade centre, and organised by Maxpo Exhibitions. Real estate from 50 Indian cities will be represented at the event, as developers in India work on new ways to get NRIs from the Gulf to buy a home – whether it’s their first or one of more. Non-Resident Indians from the UAE and Gulf are piling in big-time. Data from Anarock, one of the biggest names in