The interesting part is that the deals take place in the virtual world. The investor purchases a virtual office, residential or commercial real estate in one of the cities in abroad having realty hotspots.
Techies are some of the smartest people in India right now and Hyderabad techies are making the most of their smartness by investing in rich-in-return international property deals. Techies are earning handsome returns by investing in real estate in the USA, UK, Dubai, Istanbul and other global cities.
The interesting part is that the deals take place in the virtual world. The investor purchases a virtual office, residential or commercial real estate in one of the cities in abroad having realty hotspots. The cost of the property is near about $10,000 (approximately ₹6.5 lakh).
The rentals of these virtual properties are between 11 percent and14 percent, which is much higher than 7 percent in India’s real estate, letting the investor earn good returns on their investment. The returns start coming in immediately or in next couple of months. The whole transaction takes place online making it a simpler process.
The Times of India quoted a young Hyderabad-based techie, Sanjay B, as saying that such investment is safe, hassle-free, offers good returns, and has the option of exiting when the investor desires. He came to know about this investment option at a property show and did further research to get clarity before investing in a property located in Istanbul. Another techie from Hyderabad who invested in property located in Dubai stated that the investors get guaranteed monthly returns of 10 percent to 11 percent.
The national daily quoted associate vice president of a global realty firm, Square Yards (Hyderabad) as saying that salaried people are drawn to such deals and overseas transactions because unlike India, they are conducted in a systematic manner and offer promised returns. These transactions also increase the purchasing power of people which is another added advantage.
Meanwhile, the property shows in Hyderabad are drawing real estate firms from the cities abroad to showcase their deals and attract more and more people to invest in them.