Tenants pay 12 months rent upfront

Written on 31 March 2015 by Alistair Boscawen in London


Belgravia Rental MarketOver 80% of tenants renting property in London’s most sought-after streets are paying the entire cost of six or 12-month agreements and deposits in advance.

Many of those paying the highest prices are affluent tenants from countries such as Russia, the Ukraine, China and Nigeria. During the first ten weeks of 2015, new research estimates that over £100m has been paid upfront.

The tenants, who include business people, students and socialites from rich families, can pay anything from £9,000 to £10,000 per week for a luxury residential property in Mayfair, Belgravia and Westminster.

For more information click on the link below:

Property Wire

 

Alistair Boscawen

Alistair has 32 years’ experience as an estate agent, starting in the country house department of one of London’s main international agencies before moving to the Knightsbridge house department of the same agency and learning the difference in values between freehold, long lease and short lease houses in Knightsbridge, Belgravia, Chelsea and Mayfair.

All articles by Alistair Boscawen

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