NRIs form only 6% of the total realty buys
Has the NRI market been impacted by demonetisation? The last couple of years has had only those NRIs who wish to return to India. “The NRI market is no longer an investment driven market, the initial frenzy has come down over the years and much of it has to do with the fact that capital appreciation has been greatly impacted and management cost of properties being higher for people living abroad. It is more of an end-user led market now and only about 6% of the total real estate activity is governed by this segment,” says Shveta Jain of Cushman & Wakefield.