Investing in real estate: countries in demand

A quick glance around the world where finding a home may not cost you much

December 16, 2022 05:34 pm | Updated December 23, 2022 05:22 pm IST

Toronto, Sydney, Dubai, Portugal, Greece, Australia, and London are just a few of the foreign cities where Indians are permitted to purchase real estate.

United Arab Emirates: Due to the proximity from India, Dubai is one of the most popular locations for high-net-worth individuals (HNIs). The fact that India and many nations, including UAE, have DTAAs (Double Taxation Avoidance Agreements) makes it easier for Indians to invest here. A 2BHK apartment here can be purchased for around ₹80 lakh.

Canada: The three most popular real estate markets are New Brunswick, Ontario, and Manitoba. In these areas, home prices range from about ₹4 crore to ₹7 crore.

Thailand: One can own a land in Thailand for a maximum lease of 90 years. The maximum lease term is typically 30 years, but it can be extended for an additional two terms. In the well-known beach city of Pattaya, a three-bedroom home costs roughly ₹70 lakh. A three-bedroom house in Bangkok’s capital could cost around ₹80 lakh.

Australia: One needs to get approval from the Foreign Investment Review Board (FIRB) before investing in real estate here. According to reports, over 35% of Indian residents of Sydney and Melbourne are willing to spend more than ₹4 crore on a home.

Singapore: It is very pricey, and a foreigner needs government approval if they want to own ‘land’ alongside the property. The average home price is ₹32–70 lakh for a 2 BHK unit.

United States of America: An ‘Individual Taxpayer Identification Number’ is accepted by the U.S. for non-citizens to use when purchasing real estate. Indians frequently invest in Florida, New York, and California. The cost of a 3BHK starts at about ₹3 crore.

Malaysia: One of the South-East Asian countries with the best business environments is Malaysia. The property markets are well-regulated and easily accessible to foreigners. However, Malaysia prohibits foreign investors from purchasing heritage properties or colonial homes. A 2BHK costs about ₹80 lakh.

Portugal: Benefits of a Portuguese visa include direct and simple access to other EU member states and the Schengen area. For a 2BHK home, the average price in Portugal is around ₹2.2 crore. In Portugal, villas and apartments tend to be the most popular types of housing.

The writer is Senior Director/Head — North & West , Residential Services, India, JLL.

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