A Look Inside Luxury Flats Overseas Students Are Spending £600 Million To Rent

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Love Your Home Bad House A Look Inside Luxury Flats Overseas Students Are Spending £600 Million To Rent

Student housing has a pretty bad reputation and it’s no wonder why…

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Freezing cold, grimy as fuck, damp-ridden, all with a lot of bat shit crazy/useless landlords in tow – not exactly an attractive proposition at £4/500 quid a month.

A planning enforcement of 008 A Look Inside Luxury Flats Overseas Students Are Spending £600 Million To RentAntonio Olmos

But some super rich ie. mega spoilt students are snapping up luxury rental properties across London every year – without fail. They’re renting out places that most families would spend their lifetime trying to afford.

London is increasingly in the spotlight for its unaffordable housing and the market which is essentially pushing pretty much anyone out who doesn’t have a six-figure annual salary.

But overseas students seem to be getting in on the high-end accommodation action. According to estate agents EJ Harris shows that over 107,000 international students studying in London contribute a staggering £600 million in rental income.

student web thumb2 A Look Inside Luxury Flats Overseas Students Are Spending £600 Million To RentEJ Harris

The wealthiest Chinese, Russian and Malaysian students are spending around £72,000 a year on properties in the most sought-after postcodes in the capital. Nice for some, ay?

Just to put that into perspective, that’s nearly triple the average British wage of £26,500 per year.

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the richest overseas students spend a huge 5000 7701 per week on luxury flats that have bedrooms bigger than the average london flat this is a bedroom in abbey lodge near regents park A Look Inside Luxury Flats Overseas Students Are Spending £600 Million To RentEJ Harris

The richest overseas students spend a huge £5,000 per week on luxury flats that have bedrooms bigger than the average London flat.

Despite the incredibly high price bracket, EJ Harris says that whenever a flat becomes available there are up to 500 enquiries from students from around the world wanting to secure the let.

2F0A027200000578 3345406 image m 35 14491943597923 A Look Inside Luxury Flats Overseas Students Are Spending £600 Million To RentEJ Harris

Those who prefer to be a bit more ‘humble’ can also snap up standard two-bed apartments in Notting Hill, South Kensington, Shepherds Bush or Bayswater for £5/600 per week. Bargain… or not.

London has been in the spotlight recently for its outrageous housing market, which seems to be pushing out anyone who doesn’t have a six-figure salary and its easy to see why at these prices.

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cadogan gardens reception room A Look Inside Luxury Flats Overseas Students Are Spending £600 Million To RentEJ Harris

So what makes these properties so expensive to rent? Well they look pretty modern and sleek, but it’s easy to see it’s all about location, location location.

In all honesty, they’re pretty decent but would I pay £6,000 a month on one of these if I was minted? Of course not.

Aldourie a at night A Look Inside Luxury Flats Overseas Students Are Spending £600 Million To RentThe Beautiful House Company

I’d bag myself a castle in Scotland for that!


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Business Insider UK

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