There are 160 ‘super prime’ lets in London’s most boujee neighbourhood where rent is more than your salary

From sky-high rents to nightmarish flatmate experiences, it’s nary concealed that London has 1 of the world’s astir aggravated property markets.

Now, caller information has revealed that 1 boujee neighbourhood houses 160 ‘super prime’ rental properties wherever the rent costs much than the average salary.

Any guesses? Unsurprisingly, it’s Westminster – a portion 1 determination that’s famously location to the Houses of Parliament, Buckingham Palace, and Westminster Abbey.

Analysing existent rental marketplace stock, Benham and Reeves’ figures recovered that 1 successful 5 rental properties crossed the UK outgo the aforesaid magnitude successful rent arsenic the mean monthly income – but immoderate ‘super prime’ locations necessitate an full year’s income (or adjacent more) to rent for 1 azygous month.

As per their findings, the mean UK idiosyncratic earns £35,481 per year, averaging £2,957 per month. And yet, astir fractional (47%) of London rental properties asked for much than the mean monthly earnings.

In Westminster specifically, 160 properties exceeded the £35,000 threshold for conscionable 1 month’s rent, accounting for 3.3% of each rental listings successful the borough and averaging a whopping £54,167 per month.

Who are the tenants renting retired Westminster’s ‘super prime’ properties?

So, who are the tenants renting retired these properties? As Benham and Reeves’ manager Marc von Grundherr tells Metro.co.uk, Westminster is mostly made up of planetary renters.

‘When considering the ace premier market, the immense bulk are planetary tenants. We spot these clients coming from Asia, namely mainland China, arsenic good arsenic the UAE, Saudi Arabia, Turkey, Latin America, and adjacent immoderate Russians that travel via different nations similar Cyprus and the UAE,’ Marc explains.

‘All of these thin to beryllium concern owners oregon are successful the superior connected business, portion immoderate are besides the relations of concern owners oregon person household wealth. It is worthy noting that ace premier renters usually travel with (or hire) a subordinate of staff, and truthful they often necessitate an further bedroom.’

And, arsenic Marc notes, the ace premier marketplace properties are lived successful – though immoderate tenants mightiness usage their location arsenic a London basal for the moving week and ‘return to the country’ for the weekends.

What bash you get for your money?

Wondering what these ‘super prime’ properties mightiness look like? These uber-boujee homes span flats, terraced houses, townhouses, mews and detached houses – and, arsenic expected, the interiors are often alternatively opulent.

‘These often person luxury oregon ultra-luxury interiors, arsenic good arsenic high-end oregon sought-after amenities and features specified arsenic gyms, swimming pools, backstage gardens, rooftop terraces, and parking,’ Marc adds.

‘On average, these properties scope from 3 to 7 beds, and see a premix of short, medium, and semipermanent fto options. Of course, it goes without saying that these are located wrong immoderate of the astir exclusive areas of London.’

Why is Westminster truthful desirable?

Westminster’s entreaty is each astir location, arsenic the borough spans immoderate of the city’s astir iconic areas including Knightsbridge, Mayfair and Belgravia.

‘It is located close successful the bosom of the metropolis and truthful it is perfect for professionals that request to beryllium adjacent to enactment successful Canary Wharf oregon the city, arsenic good arsenic planetary students that request to beryllium adjacent their university,’ Marc concludes.

‘For high-end renters, convenience is often astir important.’

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