Brexit may make UK real estate cheaper for Indian

TIL Desk/Business/New Delhi-Indian investors may look at acquiring properties in UK, including in London, following devaluation of pound and fall in real estate prices due to Britain’s exit from European Union, property consultants said today. At the same time, FDI and private equity inflow in Indian real estate sector may be impacted adversely, they added.

Leasing activities of office and retail spaces would not be affected much. “The British Pound is currently at a 31-year low, which itself provides an attractive rationale for foreign investors with an appetite to do so to acquire properties in the UK,” JLL India Country Head and Chairman Anuj Puri said.

The UK – particularly cities like London – has always held a special attraction for Indians, particularly HNIs, with business interests or families there, he said, while adding such individuals would certainly keep a close watch on the effect of Brexit on UK s property prices. “It is very likely that many more Indians will seek to invest there,” he said in a statement.