A widening gulf between supply and demand has hit London’s super-prime rental market, an uber-exclusive pocket of the lettings sector that encompasses homes renting for more than £5,000 (US$6,823) per week, and landlords can expect to benefit.
During the third quarter of the year, there were 45 super-prime homes rented in the capital—up from 34 at the same time last year—including one property that rented for £40,000 per week, the highest-priced deal last quarter.
In fact, this August alone was one of the busiest months on record for the number of super-prime lettings handled by Knight Frank, according to a report Thursday in the U.K. from the property consultant and estate agency.
While the appetite for these upscale homes has risen, particularly in neighborhoods of Knightsbridge, Kensington and Mayfair as renters seek more space after periods of lockdowns, inventory has diminished.
Article Source: Mansion Global