Rich students from abroad move to the most expensive and prestigious apartments in London. The biggest demand for luxury housing comes from the Russian youth, reports ee24.com referring to the British media.
While ordinary students are crammed into small rooms on the outskirts of London, their rich classmates live in the most prestigious apartments in the best areas of the capital of Great Britain and pay a rent of £1,000 per week (€1,160).
The most expensive apartments are in London's Knightsbridge. Rental costs are on the average of £1,200 a week (€1,400). Other popular locations are Mayfair, Kensington High Street, Marylebone, Victoria and Covent Garden.
London realtors say that at least 35% of all apartments in the street Mayfair cost about £999 a week, and another 25% - up to £2,000 (€2,300). Tenants are mostly foreign students from Russia, India, China, the Middle East and the United States.
In total, students bring income of £5 billion per year (€5.8 billion) for the UK economy. In London there are about 105,000 students. Their parents chose the British capital, because they trust the English education, and children choose Mayfair due to its proximity to a cherful West End with its expensive restaurants and shops.
Students from developing countries rent apartments in newly built luxury homes in London. Note that in the new house in Duke Street, for example, to get an apartment for rent is not cheaper than £1,950 per week (€2,260). About a third of apartments in that house are leased to foreign students.