High UK rentals suggest residential sector remains attractive investment despite various headwinds
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[LONDON] Rents in the United Kingdom have hit all-time highs this year due to a shortage of rental properties, suggesting the country’s residential real estate remains an attractive investment. Market players say demand among foreign investors is still strong.
Average UK residential rents have risen by 9.7 per cent to an all-time record of £1,199 (S$2,002) a month, over the 12-month period ended April 2023, according to a rental index from HomeLet, which advises both landlords and tenants.
The index, which combines data from 4,500 UK agents and was produced in partnership with property consultancy Dataloft, showed London rentals rose 11 per cent to an average of £2,000 a month.
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