Interest in London residential property from buyers in the United States and India has surged over the last three years, according a new analysis of the market.
The US has been the most active foreign country for the past three years by a considerable margin. There is also a growing interest in the London property market from India, with web traffic up by 94% during the same period.
While London has always been a magnet for foreign investment, the Brexit stalemate has seen interest from most European Union countries in the first quarter of 2019 wane compared to last year, most notably from France with a fall of 16%, while interest from Spain and Denmark is down 13.8% and from Austria down 34%.
In addition, India’s growing economy, expanding middle class and favourable currency exchange rates, also appear to be encouraging more Indian investors to consider purchasing property in London. Although the pound has broadly risen against the Rupee since April 2017, it is nonetheless still 13.5% below its August 2015 peak.