Monday, Feb 23, 2009
London landlords being hit by a fall in rental income
Mortgagestrategy: Lack of overseas tenants pushes down London rents
London landlords are being hit by a fall in rental income as the numbers of applicants from overseas declines, figures from Hamptons International reveal. The company has reported that the number of overseas applicants looking for a property to rent in London has fallen by 20% in the last six months. Prime areas of London including Tower Bridge, Kensington and Knightsbridge have been hardest hit by the fall-off in overseas tenants, with rental prices over the last six months down by up to 16%.
Posted by jack c @ 04:02 PM (509 views) Add Comment
3 Comments
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1. drewster said...
Muwahahaha! Falling rents are nice :)
2. shining wit said...
Buit London is immune from these sort of things????
It's not a dirty and overpriced city, full of desperate people and celebs who spout rubbish about property!!
drewster, poor attempt at insane laughter, where the dickins is confused76 these days?
I have already renegotiated my rent down by just a couple of quid under 20% in november and hoping for a further decrease (in about may/june) while the turmoil continues and similar properties are being added to the lettings agents lists in my area every month. I reckon my landlord might be just about ready for it then.
3. drewster said...
What can I say - confused76's laughter is infectious!
No sign of rents falling in my immediate vicinity, but rents are plummeting in the less desirable parts of town.