Indians own more properties in London than the English
According to a general census and current statistics, Dubai’s total population is around 3.5 million. This cosmopolitan metropolis had more expatriates than the locals or Emiratis. It might seem interesting but do you know a similar trend has been observed in another world’s leading financial hub – London. This is a city that belongs to the English but the statistics show otherwise.
Indians are the highest number of property owners in London than the English themselves.
Barratt Homes London conducted a study…
A report was published by the Financial Express on September 3, where the London-based residential property developer Barratt Homes conducted a study. This report finds that Indians are the biggest group of property buyers in the London housing market. The significant part of this ever-burgeoning group is the Indians living in the UK for generations, potential property investors, and families traveling to the UK for education. Students also make a huge chunk of this group, who also own properties in London.
In literal terms, you always see more English roaming around London and seem to be the most dominating ones there but the statistics show otherwise. More Indians are in the market and they are ready to shell out humongous amounts anywhere between GBP 290,000 and GBP 450,000 to purchase properties in London. In this price bracket, potential buyers can score one, two or three bedroom apartments in this city.
Another notable point that this report reveals is that Indians own more properties in London than English – followed by Pakistanis at the number two spot.
The number of Indian investors increasing
The demand for Indian investors to buy apartments in London is increasing. One of the biggest reasons for such a surge in demand for properties in London is because London is a great place to be. It offers excellent lifestyle facilities, educational options and financial purposes.
“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, stated.
A large number of investors buying London properties
The study conducted by Barratt Homes London revealed several facts about the properties in London and UK and the numbers behind them. For instance, almost 30 percent of total sales of London properties at Barratt London belong to investors only, who plan to buy to rent them ahead to others. And a majority of these investors are from other countries as well, who intend to invest in overseas properties.
“This year we have seen a growth in the percentage of Indian homebuyers, who make up 3.5 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. “India by far is one of the strongest markets we see long-term growth in, with overseas investments rising from India. Another strong player is the Middle East, with investors from Saudi Arabia, Qatar, and Kuwait,” he stated further.
According to Knight Frank…
In fact, according to a Knight Frank report, 10 per cent of India’s UHNWIs 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.
What makes London a popular choice?
London, being a financial hub and educational centre, is a popular choice for Indians and Pakistanis looking for overseas property markets to invest their saving. Not just the investors but it is equally popular amongst home buyers as well, who intend to make London their permanent home.
“The reason why Indians are comfortable with buying property is because of the market fundamentals and confidence along with a history of Indians investing in houses in London. They’re eager to invest in the UK residential markets because they are getting better returns owing to the exchange rates and market presence presently. It is relatively a safer market in comparison to the UAE or India,” he said.
It is also observed that applications from Indian students to UK schools and universities have increased by 128 per cent in one year, making London a more attractive option for potential property buyers looking to invest in London homes. A huge variety of world-class educational institutions, countless business opportunities, language familiarity, and promising returns on investment along with growing investment opportunities in the London housing market are a few of the major reasons why overseas investors (especially Indians) always prefer investing in properties in London.
How much does it cost to buy a property in Barratt Homes’ projects?
Barratt Homes has a large number of new-build homes that cost under £500,000 but are built to last and equipped with all modern technologies and fixtures. Moreover, Barratt Homes’ projects are beautifully designed and well-positioned around London. All new build homes by Barratt Homes also come with a ten-year NHBC Warranty along with a two-year fixtures and fittings warranty.
There are a number of Barratt properties that are worth up to £500,000, positioned at different locations and come with beautiful settings. Hendon Waterside, No. 10 Watkin Road, Ridgeway Views and New Mill Quarter are a few such options that you can consider in this budget bracket.
Copperstones, the award-winning boutique real estate agency, also has a bunch of Barratt Homes properties located in different developments that can match your taste and fit into your budget. All you need is to pick up your phone and drop us a call at: +44 203 888 5555 or leave us a query at: enquiries(at)copperstones(dotted)com. We assure you that one of our sales representatives will get back to you within 24 hours.
Please submit your enquiry and a member of our team will get in touch with you soon.