The worst hit sector in this recession time is the real estate, nationally and globally. There are rates that are slashed 25-35% with the prices of properties. The prices in US, UK, Australia,South Africa and also the Gulf countries, Singapore etc have seen surge with the Indian buyers to buy property overseas. The ground reality touches with the city of Mumbai and Delhi which tops the charts in the overseas deals. Sources claim that the growth is 100% and nearly 30 deals are done per month. There are buyers that come from different parts of the country.
Some deals are cheaper than the Indian cities while others cost more. In US alone the prices has fallen in nine of the ten cities. There is a reported drop of more than 40%. The 40-odd islands are up for sale with a price tag that is 3 years old were one can grab it for A$ 1.3 million. Property prices in Ireland has fallen 25% and there happens to be a surge with the land deals by Indians which are focused on holiday homes. There are people that buy properties for real estate business, and they are becoming attractive. Many of them plan to rent them with the rental earnings is around 10-12% in US when compared to 2-5% in India.
The UK and Gulf are attracting investors with their friendly regulations. There are many tax free options given for buying land in the Gulf countries. The economic situation has changed the rules of many countries before the problems in the economy there were tough regulations for buying property overseas.