The UK is an inspiring destination for Indians, not only for studies and careers but also for investment and property. In modern times, London has seen a rapid increase in the wealth of Indians. According to research and statistics, Indians now have more wealth in London than the British.
Stuart Leslie, the International Sales and Marketing Director at Barratt London, revealed significant interest from Indian investors in purchasing property in London. They seek to invest in a stable and enduring property market. Additionally, he noted that the majority of properties outside London are being purchased by local UK buyers who intend to reside in them.
London is a financial and educational center. It is also an important global gateway for investors. The city is quite popular among Indian investors or home buyers. The special thing is that the prices per square foot in London and Mumbai are almost the same. Also, the uniform legal system makes transactions less complex. This is the reason why Indian customers like properties in London.
It is not that Indians have recently started buying property in London. Indians have been major buyers of property in London for many years. At the time of the EU referendum, property prices had fallen significantly. Between October 2019, there was a huge discount of about 20 percent on prime central London properties. Even during that time, Indians had bought property extensively in London. A report also revealed that the average age of super prime buyers in London has fallen.
The current trend favors close-to-finished or completed projects as “individuals are eager to act swiftly post-pandemic.” In Barrett London, the sought-after price range falls between GBP 290,000 and GBP 450,000. “This pricing isn’t typically associated with London’s market, but rather with tier-II or tier-III cities,” leading to a preference for purchasing property in London over smaller British cities.
