The economic crisis is good news for high net worth Indian investors who are already eyeing second homes in Singapore and Malaysia.

The Hindu Times reported that wealthy Indians are attracted to Singapore´s and Malaysia’s property market as prices in both countries have dipped by 30 to 40 percent in recent months.

These are considered ´steal deals´ as affluent Indians can now purchase a second property in both countries at domestic rates.

"People are buying property abroad because these are as expensive or sometimes even cheaper than in India, which makes it perfect for getting a second, or a third home," Jaideep Singh, head of the India desk at global property consultant Knight Frank, told The Hindu Times.

However, The Hindu Times reported that Dubai is still the most sought after investment destination amongst wealthy Indians.

Source : www.property-report.com