Move over Dubai and London, South East Asian countries such as Thailand and Vietnam are now gaining traction as investment destinations for Indians looking to purchase real estate abroad.
Property prices for a three bedroom home in Pattaya, a popular beach city, are approximately Rs 70 lakh. In the capital city, Bangkok, the same home could cost approximately Rs 80 lakh. However, property investment rules for individuals and foreign-owned companies are different.
If you are looking at buying something for about Rs 70 lakh, you can either buy a small house on the periphery of an Indian metro or invest in something more luxurious in parts of South East Asia, said Ritesh Mehta, senior director and head, west & north, residential services & developer initiatives at JLL. “What more do you want?”
People are now looking at Vietnam as a market, said Mehta, and condos in Thailand are doing…
