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Jun 19, 2013

London prices are rising, but rents are weak


Last Updated: Jun 19, 2013
PRIME CENTRAL
LONDON - Flats
COST (£) YIELD (p.a.) PRICE/SQ.M. (£)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
60 sq. m. 894,240 2,424 3.25% 14,904 40.40
120 sq. m. 2,485,440 4,337 2.09% 20,712 36.14
175 sq. m. 4,219,250 10,213 2.90% 24,110 58.36
300 sq. m. 7,393,800 19,584 3.18% 24,646 65.28
LONDON - Flats
(other luxurious areas)
60 sq. m. 702,240 2,550 4.36% 11,704 42.50
120 sq. m. 1,706,280 4,088 2.88% 14,219 34.07
250 sq. m. 4,735,250 10,015 2.54% 18,941 40.06
Districts researched:
Prime Central London: Belgravia, Brompton, Chelsea , Kensington, Knightsbridge, North Mayfair
Other Luxury Areas: Bayswater, Earls Court, Hampstead Heath, Notting Hill, Marylebone, Regent“s Park, Pimlico, South Kensington and St. John“s Wood
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Prices per square metre (sq.m.) of apartments in Prime Central London (PCL) range from GBP 15,000 to GBP 25,000. Bigger apartments tend to cost more. A 120-sq.m. apartment costs on average, GBP 2,500,000 whereas a 300-sq.m. apartment costs around GBP 7,400,000.

Monthly rents per sq. m. range from around GBP 36 to GBP 65. This means that a 120-sq.m. apartment rents out for around GBP 4,300 per month, while a 300-sq.m. apartment rents out for around GBP 19,600 per month.

Average square metre prices in the other luxurious areas of London range from around GBP 12,000 to GBP 19,000. A 120-sq.m. apartment here costs on average, GBP 14,000 per sq. m. or about GBP 1,700,000 to buy.

Monthly rents per sq. m. range from around GBP 34 to GBP 42. A 120-sq.m. apartment rents out for around GBP 4,000 per month.

The gross rental yield or gross returns on a fully rented out apartment, both in PCL and in the other luxurious areas of London is very poor.

In PCL, rental yields range 2.09% to 3.25%, whereas in the other luxurious areas of London, rental yields range from 2.54% to 4.36%.






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