News & Views on Indian Real Estate

Wednesday, August 27, 2008

A Home in the UK to cost you less, compared to Delhi and Mumbai

The time is right to buy a house in the UK, as the slowdown in the global economy has made residential properties cheaper there. Prices are falling by about one percent every month and it is estimated that there might be a 12% decrease in prices this year. A report by JLLM says that the number of Indians buying houses in the UK is set to increase hugely, by 2017. Currently, property prices in cities like London and Birmingham are between 20 to 60 percent lower than in major Indian cities like Mumbai and Delhi. With prices falling further, it might get easier to afford a house in the UK, than within the country, where in some areas, prices are still bullish.