Foreign tenants set the tone in the rental market of London

The activity of international tenants of residential property in London is growing, especially demand from foreign tenants for the most sought after and expensive areas of London. More than half, about 56% of tenants and London from abroad. The total number of tenants remained unchanged. And the share of foreign tenants in a luxury Central London have increased significantly over the past year and amounted to 78% .

The greatest number of tenants are representatives of Western Europe, 24% from North America and 8% from Asia and 7% from Eastern Europe – 6%.

In the most expensive segment of the market – in the center of London, where rents start from £ 1,000 per week, the highest demand for rent.

The representatives of France account for 16% of all tenants of the elite parts of Central London, the Americans – 13%. In Chelsea and Kensington the highest concentration of residents from Western Europe, mostly French and Italians. The lycée Charles de Gaulle in Kensington, especially attractive to French families moving to London.

District , located on the outskirts of Central London, known for a large number of American residents. The number of renters from North America is about 30% of all foreign tenants. In this part of London inhabited American community, which centered around the American school and the residence of the American Ambassador, Winfield house, which is located nearby.

International tenants have significant impact on the growth of the rental market of residential property in London, especially in Central London. Highly-skilled migrants, mainly in the financial sector and high-tech sectors come to London from all over the world . The object of their interests is becoming the premium residential property sector in London. As the economic situation improves in the Eurozone, given the even greater demand of foreign skilled workers in the short and medium term the rental values in London will only grow.

® Maxim Savitsky 15.10.2013