Nearly half of the current residents in Bloomsbury are students and staff at the University. Due to the proposed increases in fees at the University next year the recent demand in flats for rent in Bloomsbury has increased significantly. It is unlikely that this demand will shift anytime in the foreseeable future and as prices for the University housing continues to rise quickly. This opportunity for landlords who offer short term rentals to students and young professionals is not one that should be missed.
Bloomsbury flats for rent have increased the number of individual and corporate tenants by twenty per cent in just the last year, specifically in one and two bedroom flats near the mid-market price point where the stock remains very low. Due to recent redundancies in London there has been a significant drop in the number of professionals who are sharing flats and small homes with their mates or co-workers and instead they are seeking one and two bedroom properties fore sole rental instead, creating a surplus of demand for these highly desired properties.
Over the last year, rental rates have increased by forty percent due to three different major contributing factors; first, the number of achievable rentals (rentals that are currently charging the highest possible price that someone would be willing to pay for the flat) has increased ten to fifteen percent which encourages tenants to stay in their current lease for longer periods of time and regularly renew their leases instead of seeking out different, likely more expensive properties, second, it is important to note the lack of available one and two bedroom flats on the market at the mid-range price point and finally the increasingly difficulty of applying for and successfully being selected for financing on a new purchase has discouraged a number of people looking to buy instead of rent. Larger flats do not seem to follow these same increases, they have stayed statistically steady and available information indicates that this will probably continue.
There has been no indication that rental renewals will be reduced over the course of the next year due to the economic situation globally, it is critical to note that London has significant impact on the financial world and is well known for being one of the safest cities to live in, which encourages people from all over the world to take the opportunity to visit or find work in the area. Combined, these qualities make London an excellent choice for landlords looking to invest in future projects, specifically in one and two bedroom flats in Bloomsbury.
Bloomsbury flats for rent are, and will continue to be, very much in demand over the next year and well into the future. The upcoming London 2012 Olympics and tenancies that are a minimum of three months will only continue to increase the demand we have recently seen in the mid-range market. In preparation for the Olympics many institutions are working to maximize their profit even though, unfortunately, very few of these will be able to see a significant return on their initial investments. It would be unwise to overlook the amazing opportunities that property rental in London could offer someone right now.
Bloomsbury flats for rent have increased the number of individual and corporate tenants by twenty per cent in just the last year, specifically in one and two bedroom flats near the mid-market price point where the stock remains very low. Due to recent redundancies in London there has been a significant drop in the number of professionals who are sharing flats and small homes with their mates or co-workers and instead they are seeking one and two bedroom properties fore sole rental instead, creating a surplus of demand for these highly desired properties.
Over the last year, rental rates have increased by forty percent due to three different major contributing factors; first, the number of achievable rentals (rentals that are currently charging the highest possible price that someone would be willing to pay for the flat) has increased ten to fifteen percent which encourages tenants to stay in their current lease for longer periods of time and regularly renew their leases instead of seeking out different, likely more expensive properties, second, it is important to note the lack of available one and two bedroom flats on the market at the mid-range price point and finally the increasingly difficulty of applying for and successfully being selected for financing on a new purchase has discouraged a number of people looking to buy instead of rent. Larger flats do not seem to follow these same increases, they have stayed statistically steady and available information indicates that this will probably continue.
There has been no indication that rental renewals will be reduced over the course of the next year due to the economic situation globally, it is critical to note that London has significant impact on the financial world and is well known for being one of the safest cities to live in, which encourages people from all over the world to take the opportunity to visit or find work in the area. Combined, these qualities make London an excellent choice for landlords looking to invest in future projects, specifically in one and two bedroom flats in Bloomsbury.
Bloomsbury flats for rent are, and will continue to be, very much in demand over the next year and well into the future. The upcoming London 2012 Olympics and tenancies that are a minimum of three months will only continue to increase the demand we have recently seen in the mid-range market. In preparation for the Olympics many institutions are working to maximize their profit even though, unfortunately, very few of these will be able to see a significant return on their initial investments. It would be unwise to overlook the amazing opportunities that property rental in London could offer someone right now.
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