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News Topical, Digital Desk : Britain abolished the more than 200-year-old "Non-Dom" tax rule in April of this year. Since then, London's real estate landscape has been rapidly changing. Many foreign-born super-rich are now leaving Britain. To avoid taxes, these wealthy are selling their multi-million dollar mansions and moving to tax-friendly cities like Dubai, Abu Dhabi, Milan, Monaco, and Geneva.
On the other hand, wealthy individuals of Indian and Pakistani origin are at the top of the list of new buyers for the expensive mansions and luxury bungalows that are constantly falling vacant in London. In addition to the new aristocrats from India and Pakistan, millionaires from Arab countries, the United States, China, Yemen, and Lebanon are also coming forward to purchase these mansions and luxury bungalows. These individuals are investing heavily in London property. Many of them have earned their wealth in the technology sector, while some are directly connected to the Royal Family.
According to a report, 65 per cent of bungalows worth around Rs 181 crore or more in 2025 were sold by non-doms who are leaving the UK to avoid tax after changes in tax rules.
What about Indian businessmen in London?
Indian-born billionaire Amarveer Singh Pannu has purchased a mansion in London's posh Hampstead neighborhood for £16.4 million (approximately ₹172 crore). Pannu plans to convert the mansion into 50 luxury apartments.
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