London’s most exclusive areas sees crowds of the super rich descend on its streets every summer.
While some of the world’s richest people like to spend part of their holidays in either a second home in Britain’s capital or a luxury hotel, high-end lettings agency EJ Harris revealed today that the insanely rich will likely spend up to £100 million ($US156 million) this summer on incredibly lavish apartments, collectively.
From several story flats with bedrooms bigger than the average sized apartment, to grand pianos in an office — no demand is too big or too small for EJ Harris’ clients that sometimes pay up to £10,000 ($US15,622) per week on a serviced apartmentin Knightsbridge, Mayfair, and Marylebone in London.
Just take a look at how awesome these apartments are.
The super-rich spend so much money on rental flats in London during the summer because they're serviced and absolutely massive. This includes having security, a reception, and in-house staff that would also clean and tend to requests from tenants 24/7.
The properties usually include incredible meeting areas like these for parties or business catch ups.
The world's richest usually rent flats in Knightsbridge, like here in the Mandarin Oriental Hotel, which is close to Harrods and the luxury boutiques of Brompton Road and Sloane Street. Other properties are available in Mayfair.
During August and early September each year, mainly the ultra-rich from Qatar, Saudi Arabia, the United Arab Emirates, Kazakhstan and Azerbaijan pay between £5,000 to over £10,000 per week for an short-let serviced apartments, says EJ Harris.
The flats are homes away from home -- without the stress of having to buy a place or do any of your own cleaning, cooking or answering the door. Around 80% bring one or more staff members with them, including a personal assistant, bodyguard, maid and nanny.
EJ Harris says the wealthiest visitors will typically bring 6-8 staff with them to help them host lavish parties and look after the family.
Visitors from the Gulf also typically want a luxurious three- to six-bedroom serviced apartment, at least 1,500 square feet in size.
A single client will typically spend around £60,000 ($93,696) a week on renting luxury London accommodation during the summer.
However, with over 90% of the clients during the summer months coming from the Middle East, tenants sometimes want to stay in ultra-traditional and twee British decorated apartment to feel like they're definitely on holiday.
This extends to the rest of the apartment, if tenants opt for a more countryside-style feel to the property.
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