TheReturnof the IndianBuyer

This keen focus on real estate investment is hardly limited to well-off American buyers,and in the past year, ultra-high-net-worth individuals from India have flexed their purchasing power across the globe (India saw a 12% overall year-over-year increase in total wealth in 2021,according to Credit Suisse)

?While ultra-high-net-worth individuals [in India] turned to the domestic market during the pandemic to purchase high-end luxury real estate,this year,they are looking at international gateway cities,?says Akash Puri,director of international business,India Sotheby?s International Realty ?New York,Miami,Toronto,London,Lisbon,Dubai,Singapore,and Sydney are among the top favorites?

?The volatility and uncertainty in recent years have encouraged wealthy Indians to apply for residence opportunities via investment in real estate or an alternate passport,?Puri adds

In the United Arab Emirates,Indians constitute 435% of the total population,Puri says,and Indian buyers are also ?among the highest number of property owners in London?

?With the rise of the global and financially savvy Indian, buying a property is not wishful but a necessity to enhance the wealth portfolio,?Puri notes ?From a second home,the shift is now to a prudent investment decision?

Above: Set on three acres of lush greenery and landscaped gardens,this estate in Maharashtra, India,boasts natural beauty,old-world charm, and luxury Opposite page: Mexico?s Casa Nido,which is surrounded by exquisite vegetation, is located within the gated community of the same name,made up of only nine residences and a common area with amenities

WhereAre AsianBuyersFocusing Their Attention?

After the US,China ranked as the country with the second-highest number of ultra-high-net-worth individuals in the world last year,per Credit Suisse,with a 151% annual increase in total wealth in 2021 As such,Chinese buyers (and wealthy investors from across Asia) continue to make their mark in global property markets

In Korea,while the majority of buyers remain local,?leading foreign buyers are from mainland China,the US,and Japan,? says Dr Lei Wang,chairman,Korea Sotheby?s International Realty ?We also see growing interest from Taiwan and Europe International high-end buyers prefer branded luxury apartments in Gangnam?

Buyers from all over the Asian-Pacific region make up a good percentage of clients for Tyson Clarke,senior sales executive,Queensland Sotheby?s International Realty,with the most coming from Singapore,Vietnam,and Hong Kong.Many are looking for primary homes,and are particularly interested in ?key blue-chip suburbs within 10 to 15 kilometers of the Central Business District,?Clarke says ?With the [2032] Olympics coming,many are looking to position themselves close to new infrastructure and games activity?

In the Los Angeles area,Asian buyers are interested in either gated communities or beachside homes in the Newport Beach area or homes in classically high-end Los Angeles neighborhoods,such as Beverly Hills and Bel Air,says Neyshia Go,senior global real estate advisor,Sotheby?s International Realty???Beverly Hills Brokerage Go has seen a sharp increase in activity since the second half of 2022 ?More and more people are looking to invest at least some of their money in Los Angeles,partly because of the geopolitical situation in Asia,?she says She?s seen buyers from Taiwan,China,and Singapore mostly For the most part,buyers from Asia want a good view and a newer house ?They don? t want some of the issues that come with an older house,?she says