The rental market is continuing to see significant numbers of Europeans searching for accommodation in London
The latest figures from rental website Spotahome show that the number of Europeans searching for accommodation in London remains high, despite concerns around the UK’s departure from the European Union and the status of European citizens in the country.
The data shows that the majority of the bookings made for accommodation in London stem from the UK’s European neighbours. The largest number of bookings originate in France, which account for 22.2 percent, followed by Spain, Germany and Italy.
With an estimated 300,000 French citizens currently residing in the UK, and the majority believed to be based in London, the English capital city was recently referred to as France’s ‘sixth biggest city’ by French President Emmanuel Macron. Despite Brexit, the French love affair with London continues. This is demonstrated by the large number of searches and bookings taking place in London from the Gaelic region.
Despite demand for rental accommodation being driven by Europeans, the second largest number of bookings on the site came from the UK, they account for 11.9 percent of the total number of bookings on the site. The London property market is notoriously fast paced, with demand often outstripping supply. Spotahome enables renters to view more properties in a shorter period of time, when compared to the typical property viewing process. This makes it a far more appealing option for time-poor renters, and for people having to relocate to the city.
Alejandro Artacho, CEO of Spotahome, comments: “It is no surprise that the majority of the bookings on the site are from the UK’s European neighbours. London is and always will be a hub that appeals to people from all over the world. It’s great to see that alongside Spotahome being popular with people from overseas, the platform is gaining popularity within the UK due to it being a far more effective method for finding accommodation.”
The website enables renters to view and book accommodation without having to visit any properties. Each listing is visited by Spotahome photographers who produce HD video, extensive photographs and detailed floor plans. Coupled with transparent property descriptions, potential tenants are able to view a large number of properties from the comfort of their own home.