“The largest group of property owners in London are Indians, who are represented by those who have lived in the UK for generations, NRIs, investors from other countries, students, and families who travel to the UK for education,” according to London-based residential developer Barratt London.
“English and Pakistani people are next in number,” Barratt London noted adding that, Indian investors, who reside in both the UK and India, are prepared to spend anywhere between GBP 290,000 and GBP 450,000 for a one, two, or three-bedroom property in London.
“We are seeing 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, told Financial Express.
In London, 30 percent of sales are made to pure investors (those who want to use the apartments as rentals), and 30 percent of those buyers come from foreign markets, reports The Current.
“This year we have seen a growth in the percentage of Indian homebuyers, who make up 7-8 percent 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.
