Indians living in the UK for generations, NRIs, investors living elsewhere, students and families traveling to the UK for education are among the highest number of property owners in London – the heart of the UK, even ahead of the English themselves. They were followed the English and Pakistani people, said London-based residential developer Barratt London. And these Indian investors are willing to shell out anywhere between £290,000-450,000 for a one, two or three bedroom apartment in London.
“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,” Stuart Leslie – International Sales and Marketing Director for Barratt London, said. Around 30 per cent of sales at Barratt London in the capital city are to pure investors (those who wish to use them as rental properties) and in that, 30 per cent includes buyers from overseas markets.
“This year we have seen a growth in the number of Indian homebuyers, who make up 7-8 per cent of the overseas market players. We are really reacting to where the demand is coming from rather than speculating and looking for business,” Stuart Leslie said. In fact, according to a Knight Frank report, 10 per cent of Indians plan to buy a new home in 2022 and they prefer to invest in properties in the domestic market, followed by international markets of the UK, the UAE and the US.