The young stars began dating after starring in 2008 hit Slumdog Millionaire together and were recently rumoured to have invested in a sprawling Santa Monica property to use as their base after they were snapped carrying boxes into a mansion.
But Patel has brushed off the gossip, revealing he still lives with his parents in London and has no immediate plans to move in with Pinto.
He tells London's Evening Standard, "We were visiting a friend and carrying some boxes for him - suddenly we're buying this mansion. They string together all these stories: by now we have a brood of eight children and houses all over the place. The truth is we are hungry young actors, trying to get a grip on this industry and work hard in it. So we're just bouncing wherever the work takes us."
However, Patel does hope to own his own property in the future: "That's on the checklist, man. It's nice living at home but I'm definitely ready to move out. If you found my house on Google maps and it had a volume button you would hear my crazy family screaming."