Friday, August 8, 2008

Indians rush to buy property in London, the host of 2012 Olympics - 'UK-India Cross Border Residential Investment' Jones Lang LaSalle report

The investors hope that the Olympics will boost the prices of their properties manifold. The trend is set to hold even after that, with the report estimating that up to 30,000 Indians will have invested in property in London over the next decade.

Currently, rates in London range from Rs 40,000 ( and #163;500) per sq ft in the suburbs to Rs 1.2 lakh ( and #163;1,500) in central locations.

Apartment prices range from Rs 2 crore to Rs 4 crore in the suburbs and Rs 3.5 crore to Rs 8 crore in central areas.
Indians look Beijing, buy London - Yahoo! India News

1 comment:

  1. Indians have emerged as the largest property buyers in the UK thereby contributing to economic development of the country, as per the data compiled by real estate firms and British Government research. Indian companies in UK has pushed corporate activity to a great extent and the Reserve Bank of India (RBI) move to allow investments abroad to the scale of $100,000 are some major factors listed by broking firms.In 2005-06, India emerged as the third largest investor after the US and Japan. The country moved ahead to 2nd position with the $7.6 billion takeover of Corus Steel by the Tatas in October 2006.Real estate projects from India increased to 76 per cent from mere 11 per cent thereby making India the UK’s third largest investor.Today, the UK houses more than 400 Indian companies. Of this, around 23 per cent have begun their UK operations in 2006. Officials estimated that India’s business operations in the UK are now worth nearly $35 billion.Parking money in London real estate is serving as a status statement for most successful Indian entrepreneurs. Rich Indians prefer to invest in exclusive central London areas since its financial climate is more stable than India.For more view-