US Realty Market attracts Indian Investors

According to a property consultant and a report published by the US National Association of Realtors, the US market is emerging as an attractive investment destination with a growing interest from Indians who purchased residential properties in the US estimated at 5.8 billion during the one-year period ending March 2014. The report also said Indians spent an average of $459,028 to buy properties across Los Angeles, Las Vegas, Chicago, Dallas and New York. Also, Indian high net worth individuals who have obtained American citizenship and are settled there have several reasons for investing in properties in the US, including their business interests and families. Anju Puri chairman and country head of consultant Jones Lang LaSalle said since a few apartments in the US are currently held by institutional investors who had bought them during crisis from distressed sellers, it is easier for a foreign buyer to make such deals with such institutions rather than with individual US house owners.