Delhi and the neighbouring cities of Noida and Gurugram continue to be Dubai-based NRIs top destinations for residential apartments in Noida. Square Yards is one of the fastest growing Proptech platforms in the United Arab Emirates. According to their survey, UAE Indians are putting their hard-earned savings into real estate in Delhi NCR.
Besides Delhi NCR, other cities where Dubai-based NRI has acquired properties are Bangalore (22%), Mumbai (11%) and Pune (6%). From an investment perspective, this was a top priority for these NRIs. But it is mainly the middle-income working class who are increasingly inclined to invest in their homes.
According to the company, most of the real estate properties purchased by NRI in the UAE in 2021-2022 were valued at less than ₹1 crore. Data from Square Yards show that more than half of NRI buyers in the UAE are over the age of 45. Also, most prefer to buy a home as part of their retirement plans.
Demographics show that NRI real estate buyers are mostly middle-aged, who buy these properties primarily for investment purposes. The majority of NRI customers are:
over the age of 45 (53%) and others (41%) are in the 35-44 age group.
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