Inside the luxury London flats rich Chinese and Russian students are spending £600 million to rent
EJ Harris
While we've obsessed with how oligarchs and sheiks are snapping up some of the most pricey properties in Britain's capital, new data from estate agents EJ Harris show that super-rich students are hoovering up luxury rental property across London every year.
But these aren't overseas students snapping up affordable housing - they're renting out places that most families would spend their lifetime trying to afford.
According to the group, over 107,000 international students studying in London contribute £600 million ($924 million) in rental income to the capital's rental market every year with the wealthiest Chinese, Russian and Malaysian students spending around £72,000 ($110,850) per annum on properties in the most sought after addresses in London.
That's nearly triple the average British wage of £26,500 ($40,823) per year.
So what makes these properties so expensive to rent? Check it out some of the flats here.
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