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Buying a house in London

Abhishek Raghunath Money Control
Buying a house in London - London - property buyer


The bleak real estate scene in Western countries is an opportunity for Indians with some extra cash. The Americans are foreclosing, the Greeks are defaulting, the Spanish are abandoning and the English are selling. Sound familiar? It's the story of the real estate sector in the West that has shown no sign of any new twist since it began in 2008.



This is an investment opportunity for Indians flush with cash. Investors are being advised to snap up properties that are going for around one-fifth the price they were in early 2007. Like the 1,500 sq. ft. retirement home in Florida that you can have for $60,000 or the Spanish Villa that will set you back by just 300,000 euros. If you want to feel really rich you can indulge by buying a Greek island.  

"Spanish villas and Greek islands may soon start becoming a reality," says Richa Karpe, director, investments, at Altamount Capital, a Mumbai-based wealth management firm that caters to families with a net worth of at least Rs. 75 crore. She has a lot of rich families who are looking to diversify their portfolio and real estate abroad is one of the preferred choices.


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