Research into one of the most exclusive student rental markets in the world found that luxury student property in London is on the rise.
Super-wealthy students studying in London are paying almost £67,000 a year to live in apartments boasting en-suite marble bathrooms, under-floor heating and large private terraces.
Online lettings portal StudentTenant.com looked into the rise of the luxury student rental property in London, uncovering how these lucky learners are living…
Investment in luxury student property has been growing, as an increasing number of property developers try to capitalise on the demand from wealthy students. Catering to students who can afford weekly rents of over £700 per week, London has experienced an influx of new, expensive, high-spec studio flats for them to live in.
The most impressive luxury student property in London has been found on a popular student-only property portal. It costs a whopping £1,300 per person per week. To put this cost into perspective, students living in London can receive up to £11,002 a year in student loans.
The fully furnished apartment comprises of two interconnecting reception rooms with living and dining space, a modern kitchen-diner, guest cloakroom, and two double bedrooms with en-suite marble bathrooms. In addition, the luxury student property in Mayfair boasts a private terrace overlooking Hyde Park.
But that’s not all; alongside these bespoke fixtures and fittings is a high-tech home automation system, which controls lighting, security, under-floor heating, air-conditioning, and media and audio-visual systems from a mobile phone.
Other luxury student property in London includes:
Grosvenor Hill, Mayfair, W1K – £880 per week
Located on the prestigious Mayfair Street, this luxury one-bedroom student apartment features 785 square feet of entertaining space. Highlights include a granite kitchen-diner, solid wood flooring, en-suite bathroom and double bedroom.
The Heinze Building, Farringdon Road, EC1R – £875 per week
This newly converted one-bedroom student apartment offers the best of London living. At more than 405 square feet, the spacious property boasts London skyline views, an open-plan kitchen and bespoke furnishings.
The Managing Director of StudentTenant.com, Danielle Cullen, comments on the trend: “With over half a million students living in private rental accommodation in the UK, and nearly half of those from overseas, it’s no wonder that we’re seeing a growing demand for luxury student properties. We have seen a huge growth in luxury accommodation in recent years, designed to appeal to the wealthiest students across the globe who are willing to pay rent upfront.
“It’s great to see property developers offer the option to live the life of luxury for those who are studying at university, but the problem we’re seeing is that luxury properties are gradually pushing up rental prices for students across the UK.”
She adds: “Landlords are seeing the potential for luxury student properties and how much rental income they’re generating, and they want a piece of it. More and more landlords are opting for the luxury label and student pockets are getting hit as we’re seeing a fall in affordable student accommodation, particularly in central London.”
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