Indian buyers are driving the real estate market across Europe: information from the UK to Cyprus

If you are in love with London's weather, enjoy the variety of eating places and can spend Rs 3.5 crore, then your second home could be the historic city that attracts millions of people from around the world every year.

London, the former powerhouse of the world, which is still one of the world's leading financial centers, is seeing a growing number of Indians buying affordable homes, thanks to leading developers who are trying to attract buyers from India. Meet Barratt London, for example. The affordable housing developer from the Barratt Developments group, which is one of the largest residential real estate developers in the UK, is actively betting on high net worth individuals (HNIs) from India for its''new projects near the metropolis. According to Stuart Leslie, sales and marketing director, Barratt International, the number of Indians buying residential properties in the region has been growing rapidly in the last 3-5 years. "We have noticed that the habits of Indian buyers have changed post-Covid and the need for work-life balance has become more important than ever," he says.

Leslie says demand for areas such as New Malden, Surrey's gateway to London in a 30-minute train ride, is growing rapidly. Besides Indians looking to spend significant time in and around London, the big buyers of such homes are HNIs with children studying in London. Leslie says that in a suburb of London, in one of Barratt London's projects,''You can buy a one-room apartment for Rs 3.5 crore. Prices of 2-room apartments are up to Rs 4.5 crore and 3-room apartments are up to Rs 5.5 crore. "Parents who have sent their children to study in and around London are also buying properties in the region.

And it's not just London. As Indians look for new markets to invest their money in residential real estate, developers from other countries are starting to turn to them''attention. Leptos Estates, a real estate development company based in Cyprus, is taking notice of the growing number of Indians buying luxury homes in the country. Cyprus is an island nation located on the eastern Mediterranean, making it an attractive destination for real estate buyers. Pantelis Leptos, co-president of the Leptos Group, tells BT that the number of particularly wealthy individuals from India has increased significantly in his portfolio in the recent past. Unlike Barratt London, Leptos offers properties in the luxury segment, with prices ranging from $300,000 (Rs 25 crore) to $1 million (Rs 83 crore). Despite the high price tag, Leptos says most Indians opt for homes priced around $500,000 (Rs 42 crore''rupees).

Also, Read: Why pollution is important when buying an apartment in Delhi NCR.