The rental market of elite residential real estate is experiencing a shortage of objects

The rental market residential real estate in London has witnessed the growth of activity in the first quarter of 2014. The number of registered agreements increased by 6.2% and the number of registered new cases increased by 7.7% compared to the same period in 2013.

However, the rental market of real estate is experiencing an acute shortage of properties for rent – units for rent decreased by 22.5% compared with the 1st quarter of 2013. This is the case when many owners of residential property to withdraw their property from the rental market and put it on the market for sale, trying to take capital gains. In a situation when there is a shortage of housing, tenants are unable to resist higher prices and according to the forecast, by the end of 2014 is expected to increase prices by 2% by the end of the year in the rental market residential real estate in London.

The UK economy is showing signs of improvement and employment in London grew by 2.9% in 2013.

The average cost of rent of elite real estate of London was at the end of March 2014, £907 per week. The highest average rent was in – St.John’s Wood – £1872 per week, in Knightsbridge Belgravia – £1806 per week, and in Mayfair – £1677.

The market – to buy, to rent continues to gain momentum. More and more investors raised the prospect of capital growth and the prospect of rising rents, invest in a property for subsequent letting. For example, the number of loans in February was 39% more than in February a year earlier. The number of loan applications to buy homes rose 58%.

London as a city is extremely attractive for foreign investors feels a constant inflow of money from outside. Recently, a Group of investors representing the capital of Chinese state ownership, invested in the London 1.2 billion and two very promising buildings of London: where it will build 661 apartment and a large plot of 98000 sqm on Canary Wharf, where it will build the largest in the UK residential building. Looking forward, it should be noted that in view of the rapid improvement of economic indicators, the growth rate in property prices in London will outperform the national average in the next few years.

® Alice Morgan. 18.06.2014,

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