London rent increases muted compared to many top European cities
London rents increased by an average of 3.5 per cent in 2019 according to a European lettings monitor called HousingAnywhere.
While this was stronger than some anticipated – especially given the uncertainties of Brexit – it remains lower than many other major European ‘world’ cities with high levels of international investment.
Berlin, Barcelona, Madrid, Vienna and Brussels are cheaper locations than London and have seen larger rises in the past 12 months.
“It will be interesting to see if a ceiling will be reached in 2020 for the most expensive European cities, and which lower-priced cities will catch up to the more expensive ones. The housing shortage certainly remains as pressing as it has been in past years” according to HousingAnywhere chief executive Djordy Seelmann.
“For the short term, we urge governments and municipalities to take a more constructive attitude towards allowing the development of new sites … In the long term, cities need to be forward-looking when considering infrastructure: communities that are currently less accessible could flourish if city centres and regional public transportation links are generally improved. Young professionals and students are looking for housing in areas where sufficient mobility is available” explains Seelmann.