Top Destinations Where Wealthy Indians Are Buying Homes

London: London has the reputation of being the favorite location of billionaires the world over. The global eminence of its financial institutions is one factor that tilts the balance in favor of the British capital. What is convenient for the Indian buyers in particular is the depreciation of Pound against Dollar. The Ultra rich Indians are known to hold their money in different currencies, so it’s possible for them to take advantage of the fluctuations in currency markets and make beneficial purchases. The presence of a large Indian Diaspora and the English language are other comforting reasons for an Indian household buying a home in London. The accessibility of London and the stable socio-political scene of the country also play their part in attracting the potential buyer. A number of rich Indians have their wards pursuing higher studies in various British Universities, another important factor that influences the purchase decision. Mayfair, South Kensington, Chelsea, Belgravia and Holland Park remain the preferred locations of Indian homebuyers in London.

Dubai: According to Dubai Land Department (DLD) data, in 2013 alone, Indians had made real estate purchases worth over Dh8 billion in Dubai. The Burj remains the most preferred among all locations for Indians in Dubai. The high net worth Indians, who look forward to visit their luxury holiday homes twice or thrice a year, find the proximity of Dubai to India an added advantage. The strong presence Indians in Dubai also acts as a catalyst as the potential homebuyers keep them updated about the real estate prices and prime properties of Dubai through friends and family. Dubai is mostly seen as a tax-free location. The fact that they don’t have to pay any property tax , sales tax or income tax lures the rich Indians towards taking a decision in favor of Dubai. The property market in Dubai gets less severely affected by liquidity crisis, which is another assuring reason to buy prime property in Dubai.

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