According to a recent report by the Austin Board of Realtors, Indians have the largest share of the total number of international home buyers in Central Texas. If we look at the percentage, this percentage is found to be 21% of the total international home buyers.
According to the Central Texas International Homebuyers Report 2022, the number of buyers from Mexico has been seen at 10%, China at 6% and Canada at 4%. According to the report, Central Texas offers an alternative to costlier metropolitan areas like New York and San Francisco for Indian home buyers.
According to the Greater Austin Asian Chamber of Commerce, people of Indian origin comprised 41% of the 165,000 Asian American individuals in Greater Austin in 2019, up from 30 percent of the population in 2010.
Driven by the growth of Austin’s tech sector, the number of Indian homebuyers is “exploding”, Hem Ramachandran, who has worked as a realtor in Austin for two decades, told Axios. Most of Ramachandran’s clients are Indians, who prefer south- or east-facing homes in keeping with Vastu Shastra, which he describes as the Indian version of Feng Shui.
According to the report, most foreign buyers from India use US mortgage financing to buy properties. The number of these Indians has been seen at 82% while the number of those who shop in cash has been found to be 12%. Along with this, the total number of primary residence buyers is 59 percent while the rental property is bought by 35% Indians.
According to the report, more than half of the foreign buyers hold a US Green Card, which means that all the buyers are legal permanent residents. The increase in the overall number of Indian property buyers and international property buyers in Central Texas reflects the safety and welcoming nature of Texas for expats.
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