Data highlights surge in NRI contributions to Indian real estate sector

Anticipated to reach 17 percent of the overall primary sales in country

15-page report by NoBroker.com says Bengaluru is investment hub for NRIs

According to the 2023 NRI Real Estate report, Bengaluru and Mumbai emerge as the primary destinations for Non-Resident Indians (NRIs) eyeing real estate investments.

The data highlights a consistent surge in NRI contributions to the Indian real estate sector, anticipated to reach 17 percent of the overall primary sales in the country.

The 15-page report by NoBroker.com attributes Bengaluru’s appeal to its cosmopolitan lifestyle, world-renowned educational institutions, and flourishing startup ecosystem, resulting in a significant boost in its rental yield and solidifying its position as a favourable investment hub.

Notably, the report, based on a comprehensive survey encompassing more than 12,000 participants, reveals that 29 percent of respondents favour Bengaluru as their top choice for real estate investment, closely followed by Mumbai, which garners the preference of 24 percent of NRI buyers.

Furthermore, the survey underscores that over 54 percent of respondents prioritize gated communities, citing safety, convenience, amenities, and a sense of community living as pivotal factors.

A significant portion of the NRI investors, approximately 34 percent, originate from IT or technology-related backgrounds, with 12 percent representing the finance sector, and 9 percent each from the entrepreneurial and medical industries, as outlined in the report.