Depreciating Pound Gives International Students More Buying Power

International students are back in the central London rental market - and in strength.

Largely priced out of prime areas for property to rent like South Kensington, Chelsea, Notting Hill, Kensington and Earls Court they account for 35% of lets being agreed by our South Kensington & Chelsea lettings office this September.

Exclusive (both acedemically and financially) universities and colleges such as Richmond College, Imperial College, the LSE, St Martins and the Royal College of Art have traditionally attracted wealthy overseas students studying post graduate courses or second English language degrees.

For many the dream ticket were pied a terre flats to rent in Knightsbridge or South Kensington, but stiff competition from corporate tenants over the last few years had untill recently made this option unaffordable to all but the wealthiest.

With more larger flats to rent in South Kensington and Chelsea and a weaker pound (down over 10% year to date vs the Singapore dollar and Chinese Yuan) we're seeing alot more students looking for flats to rent in London from South East Asia, and two or three lets are being agreed every day from 300 - 700 per week to students.

The majority of these tenants pay the entire term, or at least six months' rent in advance. Experienced landlords welcome students equally as much as corporate tenants, the negative stereotype image portrayed in Ben Elton and Rik Mayall's the "Young Ones" is far removed from the reality of modern student life - especially if mum and dad are picking up the tab, very often in excess of £40,000 a year (or 440,000 CNY China Yuan Renminbi!).