NRIs based in the US, the UK, and Singapore are investing in larger housing units in their hometowns, having learned from the painful experience of living in space-tight units during the lockdown in India, and as the Work from Home (WFH) mode has become a requirement, according to experts.
The real estate experts, said that the Non-Resident Indians are also settling down with extended families, another lesson from the pandemic that living together with family members is much helpful in facing another COVID-19 wave type development in the future.
Also, with the US in recession and job cuts by heavyweights Twitter, Amazon and Facebook, Indian professionals in the United States are rethinking their priorities and are investing in large housing units, be it condominium apartments or bungalows.Weak rupee is another drawing factor as stronger US dollar and other currencies have made it attractive to invest back home.
The business representatives of over 30 developers see housing demand for extended families, especially adding parents in all possibilities to ensure no one is left alone in case of another lockdown. "Having a home in your hometown is a must among NRIs, especially the high-net-worth individuals," observed Anubhuti Dhote, a Former Corporate Personality working through the growing community of Singapore-based Indian executives managing international businesses across Asia.
Property observers believe that NRIs, fearing job loss in the United States, are more than ever drawn to be in their hometown, given their abilities to work online from anywhere in the world.
