The world’s richest people may own some of the most decadent places in the most sought after locations in the world, but that doesn’t stop them renting too.
In fact, this is becoming more prevalent as the increased scrutiny from the Panama Papers leak, is encouraging many potential buyers of London properties worth over £10 million ($14 million) to rent instead.
One of the latest luxury properties to hit London’s rental market for the ultra-rich is a 4-bedroom apartment at One Hyde Park, opposite the park of the same name, which costs an incredible £1.17 million to rent a year.
It’s also available to rent on a short term basis for £22,500 per week or £90,000 per month.
But despite having some insanely luxurious amenities — such as a private cinema, pool, spa, and golfing area — it’s not the most expensive flat from the One Hyde Park development to hit the market. Last year, the letting agent Tunstall Property, managed to rent out another flat for £45,000 per week.
Business Insider took at a look at the latest property:
Residents at One Hyde Park have the luxury of a on-site concierge, housekeeping, and valet services, 24 hours a day. The round the clock service comes at the provision of the neighbouring Mandarin Oriental Hotel, which is connected to the development by tunnel.
The third-floor flat has 4,000 square foot of living space and has three equal-sized en-suite bedrooms.
The luxury apartment, which is let fully furnished, was developed by Candy & Candy, One Hyde Park and was designed throughout by Katherine Pooley Design.
The flat has a large Bulthaup kitchen, with natural marble floor, marble breakfast bar and built-in Gaggenau appliances. Opposite is the private dining room which is large enough to seat eight or more people.
The bathrooms are all fitted with rich cream marble, 'his and hers' vanity units, bathtubs, and shower rooms.
One of the key features is the views of Hyde Park. The large living area features floor-to-ceiling sliding windows that open to a balcony.
But this 21-metre 'ozone' swimming pool, is why London's wealthiest would fork out over £1 million to rent this place.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.