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How To Buy Real Estate Property Abroad? [Factors in Brief & Stats]

The desire of having a very own home in faraway places especially holiday spots has been increasing tremendously among people in India. As per a survey conducted by a real estate consultancy firm, Knight Frank, around 45% of the people are interested in property abroad. It is not an easy task acknowledging various factors like legal issues; weaken rupee value and taxation laws.

Infographic - Why and how many people buy homes abroad?

Infographic - Why and how many people buy homes abroad?

One should first check if the country permits you to buy the property as many countries have restrictions on the foreign property buyers. As per RBI, an Indian can transfer a property of $2,00,000 to buy immovable property. In case of selling property, a short term sale will intrigue capital gains tax at 30%; while in a long term sale its 20%.

Dubai, London, New York and Singapore are the most popular places for Indians. Executive director in residential services, Cushman & Wakefield India, Mr. Akshay Kulkarni said that return on investment, location, facilities offered and the market conditions should be kept in mind before taking the decision.

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