For Sotheby's International Realty, the arm of auction house Sotheby's that offers luxury real estate for sale worldwide, Indians constituted the third largest group of international buyers in the US last year, behind China and Canada.
Sotheby's International Realty will launch an India desk, especially for Indian buyers in New York this year. The uptick in the number of Indian real estate buyers is being seen in other markets in Europe too.
Indians invested $7.8 billion in prime residential real estate in the US last year, up from under $6 billion in 2016, while 22% of the buyers of central London properties last year were Indians.
Industry leaders from the luxury real estate sector discussed such investment trends at the Global Luxury Realty Conclave 2018, which was organised by India Sotheby's International Realty in partnership with the CII. ETwas the media partner for the event.
"The wealth being created in India is significant," said Philip White, president and CEO, Sotheby's International Realty Affiliates, while Ian Plumley, senior vice-president MENA and India at UK-based Berkeley Group said his company is focused on promoting London as an investment destination through the network being built here.
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