With numerous articles about foreign investors flooding London being released on almost a daily basis, it is correct to assume that there is fierce competition among commercial property investors battling it out to achieve the most profitable investments in the British capital.
In recent news, it is reported that mega-rich Indian investors have taken the city by storm and become the biggest overseas property buyers in London’s luxurious district of Mayfair. In an article released by Asia’s leading luxury real estate, architecture and design magazine Property Report, facts state that buyers from this region have spent an estimated £1billion on both commercial and residential property in London.
Statistics provided by the Land Registry supported this article stating that approximately £450million was spent on top end residential housing, which many wealthy Indian families will temporarily live in for the remainder of this summer. Temperatures in Indian will soon soar, therefore this wealthy population will relocate to London for a comfortable climate during this period. Industrial experts now predict that Indian property investors will spend at least another £500m on property development alone in the next 5 years.
Other regions that have seen an influx in investment from Indian moguls are St John’s Wood and Belgravia. As it stands, the leading investors in the Mayfair area are still British investors, who have a 30% share of the property, and the Indian buyers whose property share has risen to a large 25%. London’s property market partly has the recent deterioration of the local Indian property market to thank for this surge in investment, as it has driven Indian investors to seek for greener pastures elsewhere.
The competition for property is ongoing and there are plenty of opportunities for investors to acquire large profits. Taking the commercial property investment avenue is more advisable as London is one of the leading commercial destinations in the world, so these commercial buildings will always be in demand. If you want to take advantage of the current opportunities for investment property in London, we at Prideview Properties are commercial property agents in London that can give you professional guidance. Simply contact us today on 0208 863 8680 to make an enquiry about our services.