Strong market fundamentals and confidence along with a history of Indians investing in houses in London are reasons behind Indians going for properties in UK
Number of Indians buying homes in the United Kingdom has increased in recent years and the studies indicate that the Indian buyers of UK properties are more than the English, a report in Financial Express said.
The report quoted Director International Sales and Marketing of Barratt London, Stuart Leslie as saying, “We are seeing a strong demand from Indian investors looking to purchase properties in London and invest in the stable and long-term property market. Outside of London, most of our products are sold to UK residential buyers, who buy these properties and live in them.”
The reasons cited for strong demand for UK properties from among Indians are:
- London a financial and educational centre
- One of the important global gateways for investors
- Also, with prices per square foot nearly identical in London and Mumbai and also a similar legal system making transactions less complicated
- Strong market fundamentals and confidence along with a history of Indians investing in houses in London
- UK residential markets getting better returns owing to the exchange rates and market presence presently
- And it is relatively a safer market in comparison to the UAE or India
“Indians – led by those living in the UK for generations, NRIs, investors living elsewhere, students and families traveling to the UK for education – are the biggest group of property owners in London, followed by the English and Pakistani people,” FE quoted a statement from Barratt London
Of course the buyers are not common Indians, but mostly those who belong to the class of UHNWI (Ultra-high-net-worth individuals). They are the people defined as having a net worth of at least US$30 million in constant 2018 dollars.
“Among the Indian buyers are those living in the UK and India and willing to shell out anywhere between GBP (Great Britain Pound) 290,000-450,000 for a one, two or three-bedroom apartment in the capital city, London.”
“Indians – led by those living in the UK for generations, NRIs, investors living elsewhere, students and families traveling to the UK for education – are the biggest group of property owners in London, followed by the English and Pakistani people,” FE quoted a statement from Barratt London.
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