Indians holding Indian passports are investing in residential property in the US and real estate analysts say top executives in Bangalore’s technology industry are the biggest spenders. The criteria is that if you have a visa lasting for 6 years and a good credit rating you can buy a home in the US without having immigration status. Banks provide loans at an interest rate of 3.5% -3.75%. Indian have invested a staggering $3.9 billion to buy homes in the US.
Indians spent $459,028 for their home purchase in the US, and this is way below the prices of premium homes in India’s top metro markets like Mumbai, Delhi-NCR, Chennai and Bangalore.
Since a large number of homes in the US belongs to the institutional investors who purchased them from owners during the crisis years from distressed sellers, it is easy for a foreign buyer to buy a home from theses institutions that from a house owners. Observers say that Bangalores large senior management in IT and technology are the top spenders on real estate in America, and many Indians continue to buy property in the US for reason like better valuations, portfolio diversification, and personal reasons like children studying in the US.