I have been hearing from friends about good real estate deals in US and UK. Not that real estate there is a good deal or a bad deal, but when you compare it to Indian prices, it surely looks attractive.
It may also be some kind of a protection for people investing only in India. You can look at condos at US $ 50,000 – at such prices the real estate agent in Mumbai and Delhi will not even look at you. Given Indian prices and terrible rental yields, it may be worthwhile to invest in US and UK.
Most of us are today sure that it is India and China are the only growth stories and all US and Europe is doomed. Please understand it takes a couple of world wars to dethrone those in power. US and Europe will not give up the domination very easily – this means the real estate investment cannot be too bad.
I am neither saying ‘buy’ or ‘sell’ – just read this article by Deepa Venkatraghvan – in Economic Times – and take your own decision..Please remember US is an extremely ‘agent’ oriented country – so while taking a buying decision remember Estate management fee, taxes, currency risk, brokerage and commissions while taking a decision…and as usual have at least ONE BUSINESS CYCLE – 7 years view…shorter views could kill you or maim you at the least.
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