Indians, known for their widespread global presence across nearly every continent, are now making headlines for owning more properties than the native citizens of some countries.
In a revelation, a report claims that Indians now own more real estate in London than the English themselves.
According to a London-based real estate firm, Indians have become the largest group of property owners in the city, surpassing even the English.
This group includes Non-Resident Indians (NRIs), international investors, and families relocating for business or job opportunities.
The stable property market in London is increasingly attracting Indian buyers, with investments typically ranging from GBP 290,000 to GBP 450,000 for apartments between 1 BHK to 3 BHK in central London.
The United Kingdom has also experienced a significant surge in student applications, rising by 128% in just one year, which has further driven up demand for housing.
The report notes that many Indian families are now investing in properties near universities and colleges, a strategic move that highlights India’s growing global presence and its influence on London’s real estate market, as well as the broader UK property market.
Several factors are fueling this trend, including London’s favorable legal structure, tax normalization, property prices comparable to those in Mumbai and other major Indian cities, favorable currency exchange rates, and attractive returns on investment.
London has long been a popular destination for property buyers, including celebrities from around the world, with many owning vacation homes in its upscale neighborhoods.
Top A-list Indian celebrities, such as Shahrukh Khan, Sonam Kapoor, Ajay Devgan, and Shilpa Shetty, are among those with properties in London. Even Indian cricket icon Sourav Ganguly has proudly invested in a home there.
Meanwhile, property registrations in Mumbai are also on the rise, with a 13% increase during the Navratri festival, registering 5,199 units compared to the previous year’s festive season.
Mumbai, often referred to as the home of India’s millionaires and billionaires, has seen luxury home prices rise by 11.5% year-over-year, positioning it as the third-highest city for luxury real estate in the Asia Pacific region.
(The Republic World)
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