New research has found a surge in the number of India-based investors pumping money into Prime Central London property.
According to the latest analysis from London Central Portfolio, Indian buyers now account for almost a quarter (22 per cent) of all sales in the market, making them the second largest group of investors after South East Asian buyers.
The group’s report suggest that the number of sales to Indian buyers and investors has shot up in the past two years, following a landmark relaxation of Indian laws, which previously limited the amount of capital Indian purchasers were able to remove from the country.
Despite this surge in Indian buyers, however, investment from the European Union (EU) has fallen significantly since the Brexit vote in June 2016.
Two years ago, EU investors accounted for 24 per cent of all sales. Now, investors from continental Europe can be held accountable for just seven per cent of sales.
Commenting on the data, Naomi Heaton, CEO of London Central Portfolio, said: “As India has become a more challenging place to invest in with high loan interest rates and rising prices in the main urban centres, together with increasing global political and economic uncertainty, Indian buyers with a larger amount of capital to spend have increasingly turned to London as an investment destination of choice.
“Despite two years of slower price growth due to tax headwinds and the UK’s Brexit vote, Prime Central London has remained attractive to international buyers as a safe haven asset class with the rule of law and proper title to property,” she said.
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