There was a surge in the number of Indians buying property in London

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New Delhi, Nov 15, 2019, Friday

Despite the boom in India's property market, the number of Indians buying property in London, one of the world's largest cities and Europe's economic capital, has grown.

London-based real estate firm reports that over the past 12 months, the number of Indians buying property in London's prime areas has increased by 11 per cent. According to the report, Indians are buying property in areas like London's Mayfair, Belgravia, Hyde Park, Marylebone and St Johns.

One reason behind this is the decline in property prices in London. According to the report, property prices in central London, which includes prime areas, have dropped by about 20%. Which is benefiting the Indian Byers.

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Most of the young people who buy property are. The surplus of people buying property in the Super Prime area in London is decreasing. Currently 73 percent of Byers are under the age of 50.

Knowing that Indians may be buying property abroad for investment, too. Rent is also higher in the overseas market. There are more returns in less time.

According to the RBI scheme, Indians can send $ 2.50 million overseas annually. However, if a person wants to buy a property abroad with his / her family, he / she is allowed to send extra money abroad.

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