XPost: uk.politics.misc, talk.politics.misc, alt.politics.uk
XPost: alt.politics.immigration
From: d@ray
There are more Indians among the highest number of property owners in
London than the English themselves, according to a recent report
In the report published by the Financial Express on 3 September,
London-based residential developer Barratt London stated that Indians are
the biggest group of property owners in the capital of England.
Leading the India group are those living in the UK for generations, NRIs,
investors, students, and families travelling to the UK for education,
followed by the English, the Pakistanis, and the Bangladeshis.
According to the report, Indian investors are willing to fork out between
GBP290,000 to GBP450,000 (RM1.49 million and RM2.31 million) for a one,
two, or three-bedroom apartment in the capital city.
The latest report matches the UK government's data from the Department for
Levelling Up, Housing, and Communities (DLUHC), which stated in 2020 that
Indian families in the UK were the property kings, with some 74% of Indian
households being homeowners, a higher rate than white Britons at 68%.
Pleasant weather, good educational institutions, ease of doing business, a
cosmopolitan outlook, and language familiarity are just some of the major
reasons why Indians prefer to buy property in the UK
The presence of a large Indian diaspora in the UK adds to the factor, too.
“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 a relatively safer
market in comparison to the UAE or India," Financial Express quoted Barratt
London's international sales and marketing director Stuart Leslie as
saying.
In fact, in the last year after the pandemic, a large number of Indian
students and families have entered the UK at over the normal rate
According to Leslie, the percentage of Indian homebuyers has increased in
2022, observing that this was due to factors such as the legal system in
the UK being comparatively easier when it came to transactions, adding to
the fact that prices per square foot were about the same in London and
Mumbai.
He estimated the rate to be a 128% increase compared to the normal rate,
associating the increase with the surge in demand for projects nearing
completion or already completed.
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
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