Rich Indian parents drive up demand for homes in London

Rich Indian parents keen to educate their children at leading British schools have helped drive up overseas demand for homes in London, a high-end estate agent has found in its latest property analysis report.

Indians have emerged as the fourth-largest group of overseas buyers of property in London, after China, Russia and the US, which has led to 2 billion pounds of investment over the past year, Knight Frank notes in its 'Wealth Report' released this week. “Education is an important demand source among Indians in the central London million-pound-plus market,” said Liam Bailey, Knight Frank’s head of research.

“The attraction for wealthy parents is to find good private schools in the UK, particularly London, which then provides a boarding option for parents who can visit over the holidays. Also, it is longer term investment, as a base for the student who may go on to university in the UK and explore future job prospects in the country,” he explained.

The ‘Wealth Report’ also finds the number of Indian “demi-billionaires”, or those with a net worth of $500 million, is set to rise from 200 in 2017 to 340 in 2022, with demand for property in London expected to remain robust in this segment.

According to Bailey, the trend among buyers from India contrasts with that from Southeast Asian countries as Indians are open to both newer and more traditional developments to invest in.