More Indians own property in London than the English

According to London-based residential developer Barratt London, Indians make up the largest group of property owners in London, surpassing even the English themselves. The group includes those who have lived in the UK for generations, NRIs, investors from other countries, students, and families who travel to the UK for education.

Barratt London notes that English and Pakistani people follow closely behind in terms of property ownership. Indian investors, who reside in both the UK and India, are willing to spend between GBP 290,000 and GBP 450,000 for a one, two, or three-bedroom property 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," says Stuart Leslie – International Sales and Marketing Director for Barratt London.

A Knight Frank survey shows that 10 per cent of India's UHNWIs plan to purchase a new home in 2022, and they prefer to invest in domestic real estate, followed by homes in the UK, UAE, and US foreign markets.

Indians are attracted to the London property market due to the country's high-quality educational institutions, business-friendly environment, cosmopolitan mindset, language familiarity, and expanding investment opportunities. Additionally, London's cost per square foot is comparable to that of Mumbai, and the two cities share a similar legal framework, making transactions simpler.

The pandemic has increased demand for finished or nearly finished projects, with Barratt London's common price range for real estate between GBP 390,000 and GBP 450,000. Stuart Leslie notes that this price range is not typically associated with the London market but with tier-II or tier-III cities, making people want to own properties in London rather than smaller cities in the UK.