Written on 31 March 2015 by Alistair Boscawen in London
Over 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.
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