Indians Investing in European Real Estate: A Growing Trend
As the world recovers from the COVID-19 pandemic, affluent Indians are increasingly purchasing residential properties in European markets such as London and Cyprus. This article will delve into the reasons behind this growing trend and the attractive investment opportunities it presents.
London: A Magnet for Indian Homebuyers
For those who love London’s weather, diverse eateries, and historical charm, purchasing a second home in the city is becoming increasingly feasible. Leading developers like Barratt London are actively targeting high net worth individuals (HNIs) from India for their new projects in and around the city. According to Stuart Leslie, Sales and Marketing Director for Barratt International, the number of Indians purchasing residential properties in London has seen rapid growth in the past 3-5 years.
Post-Covid, Indian buyers’ preferences have shifted towards a better work-life balance. Areas like New Malden in Surrey, which offers a 30-minute train journey to London, are seeing a surge in demand. Apart from Indians wanting to spend significant time in London, HNIs with children studying in the city are also major buyers of such properties. Barratt London’s projects offer one-bedroom units in the outskirts of London starting at Rs 3.5 crore, with prices increasing for larger units.
Cyprus: A Rising Destination for Indian Luxury Homebuyers
As Indians explore new markets to invest in residential properties, developers from other countries are shifting their focus to cater to this growing demand. Leptos Estates, a property development company based in Cyprus, is witnessing a growing number of Indians purchasing luxury homes in the country. Cyprus, an island country located in the eastern Mediterranean Sea, is an attractive destination for homebuyers.
Pantelis Leptos, Co-President of Leptos Group of Companies, has observed a recent surge in ultra high net-worth individuals (UHNIs) from India in their portfolio. Unlike Barratt London, Leptos offers properties in the luxury segment, with prices ranging from US$ 300,000 (Rs 25 crore) to US$ 1 million (Rs 83 crore). Despite the steep price tags, most Indians are opting for homes priced around US$ 500,000 (Rs 42 crore).
Reasons Behind the Growing Trend
Several factors are driving affluent Indians to invest in European real estate:
- Quality of life: European cities like London and Cyprus offer a high standard of living, with world-class amenities, education, and healthcare.
- Investment opportunity: Investing in European properties presents a stable and profitable investment opportunity, with potential for capital appreciation and rental income.
- Global exposure: Owning a property in Europe provides Indian buyers with global exposure and opportunities for personal and professional growth.
In conclusion, the growing trend of Indians investing in European real estate reflects the evolving preferences and aspirations of affluent Indian homebuyers. As the world continues to recover from the pandemic, it will be interesting to see how this trend evolves and impacts the global real estate market.
Orginal article: Link To Article – provided by Kansas City Realtors
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