Indian Families Power into London Market

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The London market was boosted last year by an increase in the number of buyers from India looking for either brand new flats in Docklands and White City, which they plan to let, or a family house in prime central London for their own use. According to Black Brick, a buying agent, Indians made up 13 per cent of its clients last year compared with 2.6 per cent in the previous 12 months. Cluttons says that Indians accounted for almost a quarter of sales in prime central London. The reason, apparently, is that the Reserve Bank of India has relaxed the rules on how much money citizens can take abroad. In the past a family of four could salt away $400,000 (£297,000) a year, but now that figure is $1 million, giving them far greater purchasing power.

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