In the last year the amount of Indian investors putting their money into the London property market has increased dramatically. According to figures from a buying agency, just 2.6% of sales in Central London in 2015/16 were from India. This year the number rose to 13%.
A second company confirmed the trend with their own figures. Their data suggested that Indian buyers accounted for 5% of sales in prime areas in the UK capital in 2012. In the period from August 2016 to July 2017 this was up to 22%. When it comes to investment properties Kensington and Chelsea and Westminster were the most popular areas.
One of the major reasons for the rise in investments is a relaxation of the regulations set out by the Reserve Bank of India that determine how much money can leave the country. Until 2015 a family of four could only take up to $400,000 away per year. The change increased this to $1million.
This increase in the amount of money that can be taken out of the country is not the only reason London properties are attractive. The weakening of the pound and increased supply of luxury apartments create opportunities too. Indian buyers have taken advantage of these, anticipating that prices will rise in the future and provide good returns.
Kensington and Chelsea have a number of locations that are attractive to Indian investors. The most popular ones tend to be close to celebrated amenities including shops and attractions. Knightsbridge and Belgravia sit at the top of the list and are home to a number of wonderful destinations.
Finefair has helped a number of investors to browse the investment properties Kensington and Chelsea have to offer. We understand how big of a decision it is but can provide full support and extensive advice. Our team are friendly and approachable, ensuring we deliver a fantastic level of customer service.
If you would like to find out more about which areas in Kensington and Chelsea are the best please contact us.