London is the world’s most popular destination for international students - 93,000 from over 200 countries, according to Study London, which represents 42 universities and further education colleges.
Wealthy students from Russia and the Middle East are paying between £800 and £2,000 a week for luxury accommodation in the Mayfair and Knightsbridge areas, reports Harrods Estates.
Students accounted for a remarkable 54 per cent of the firm’s lettings business in 2008.
“They prefer to live alone rather than share and like new-build apartments with good security and a swimming pool,” says the firm’s Karen Bolland.
Unite, a leading student accommodation provider, has launched The Collection - higher-specification flats at three buildings in Shoreditch, Hatton Garden and Russell Square. Rents range from £195 to £330 per week. Call 020 8808 5445 or visit www.unite-students.com.
Handsome returns of up to 10 per cent are available to individual private landlords, says Stuart Law of property investment firm Assetz. Shared student houses offer the best yields.
“University applications are rising and demand will remain strong. I’ve invested in this sector myself over the years and it is the best performing part of my portfolio.”