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Indian Realty Must Woo Western Retirees; quips Jatin Mohan Seth and Kuldip R. Rampal
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CHANDIGARH, India, Oct. 25, 2020 /PRNewswire/ -- As ever-increasing numbers of Americans  and other Westerners are moving abroad as expats, both working and  retirees, the time has come for the Indian realty market to focus on  attracting this segment as potential buyers and renters of high-quality  housing.  The number of expats has more than doubled in the last fifteen  years, according to the most recent figures released by the U.S.government in 2017. The US State Department estimated that in 2016  nine million Americans were living abroad as compared with four million in 1999.  And, the number is expected to keep going up as baby-boomers,  those born in the late 1940s, take retirements in massive numbers in  the next few years.

 

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"Highly affordable cost of living and healthcare were cited as the  top reasons by expats, especially retirees, among their criteria for  selecting their destination country," said Expat Insider 2018 in a  report. Vietnam and Malaysia featured among the top 10 countries for  retirees, International Living magazine said in August this year. Chandigarh-based Family Nest Real Estates Pvt Ltd. Director Jatin Mohan Seth said that if Vietnam, Thailand and Malaysia can rank among the top  countries for Western retirees, surely India offers equally strong,  perhaps even better, attractions to compete. "Take the Indian healthcare industry, for example. Medical tourism, worth $3 billion in 2015, attracted 234,000 foreign patients that year providing healthcare at one-tenth the cost that Americans typically pay at home," he further said. Government figures show that by 2017, the number of arrivals had jumped to 495,056, and a further quantum jump is expected by 2025.

Texas-based Professor Emeritus, Kuldip R. Rampal, said that,  "when you consider India's highly affordable living costs,  entertainment and amenities, attractively priced housing, good  climate, wide use of the English language, an open and stable political  system, then you have a country that has the makings of a top retiree  destination.  "The question is: Are the government, through favorable  residency and visa policies, and the housing industry, through  attractive buying and rental packages, ready to reach out to woo this  clientele?"  Rampal  asked.

Rising foreign investments in Indian realty indicate that the West  is looking at India with renewed interest.  For example,  Canada's Brookfield Asset Management  is buying  Indian developer  RMZ Corp.'s  commercial properties for $2 billion, the  biggest real estate deal in India,  Bloomberg reported Oct. 20.  Cumulatively, Indian realty has attracted more than $15 billion in  foreign investment since 2011, according to property research firm  Knight Frank.  "Such investments bode well for the construction of housing  units and apartment buildings as per global standards,"  Jatin Mohan Seth  said.  That should provide an additional incentive not just to expats, but also  to NRIs, he added.

Kuldip R. Rampal  added "NRIs and overseas citizens of India are likely to throng the Real Estate market due to prices bottoming out and a bright growth outlook for the  Indian economy."  Indeed,  BloombergQuint reported on Aug. 21, 2020,  that as many  as 40,000 NRIs could be looking to purchase assets in India. If this  demand gets converted into sales once travel curbs ease,  post Covid-19; this could  be a "historical high."  Weaker rupee, low interest rates and integrated townships,  which offer lifestyle features similar to what expats have experienced  in foreign countries, are triggers that are bound to convert interest  into sales.  Rampal  added, "As the world's romance with China subsides in the wake of the  Covid-19 pandemic, it is India that is attracting huge global attention. Indian Realty and government should do their part to  take advantage of this welcome phenomenon."

About Family Nest Real Estates Private Limited, Chandigarh

Family Nest Real Estates (P) Ltd. is one of the  leading Real Estate Consultancy Services Company, based in  Chandigarh, with presence in the Real Estate sector since 2007.  The Promoter  Jatin Mohan Seth  is an  Engineer  by education and has worked in various well respected Companies before starting with this venture. Besides the Promoter,  there is a team of highly motivated Professionals & Business Associates, who work together to make this venture a success.

Our assurance of consistent ethical dealing with clients reflects in our motto -  "  We UNCOMPLICATE Property Buying "

Please visit :  www.familynest.in

You Tube :  https://www.youtube.com/channel/UCRqemGmzbMIy7a-RDVpqwOQ

Logo: https://mma.prnewswire.com/media/956225/Family_Nest_Real_Estates_Private_Limited_Logo.jpg

Media Contact:
Jatin Mohan Seth
familynest.2@gmail.com  
+91-9915899602 /  +91-9872418834  
Director

Media Contact : Jatin Mohan Seth, jatin@familynest.in, 9915899602, Director, Family Nest Real Estates Pvt Ltd

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