What Students Will Pay for a London Apartment

Small, cramped apartments that are unkempt, untidy and filled with students are a hallmark of life for many students no matter where they go to university. When shopping for a flat in London, you need to know what you are willing to pay for a place to live before you start looking.

There are many great areas in London for you to find the perfect home, no matter what your price range. For some, these will be small, cramped apartments that you share with other students, while others are able to afford some of the hottest flats in London that used to be reserved for financial professionals.

Students from a Wide Range of Backgrounds

Students of all backgrounds flock to some of the top schools in London for a chance at receiving some of the best education in the world. Some of these students can barely afford the clothes on their back while others come from affluent backgrounds where money isn't an issue. Regardless of your background, you shouldn't have any trouble finding a flat in your price range especially if you are willing to entertain the idea of roommates.

Be Prepared for Sticker Shock

When looking for a flat for the first time, you need to be prepared for what you are going to have to pay. In most cases, rent is advertised on a weekly basis so that really affordable place you found that you just love can turn out to be far more expensive than you originally thought. When you are looking for a new place to live especially if you are from a foreign country, keep this in mind while you are searching so you don't agree to rent something that you really can't afford.

Central London's Top Locations Become Home for Students

Some of central London's top addresses are slowly becoming homes for some of the most affluent students attending university in the area. Many of these flats can go for over £1,000 per week and used to the homes of successful business professionals, but have now become home to both local and foreign affluent students. According to the London Central Portfolio, students now account for almost half (41%) of the tenancy agreements in the areas that include Mayfair, Chelsea, Kensington and other top areas in London. The study also noted that the number of foreign students in the area increased from 12% to 29% between 2006 and 2012. The report stated:

"Rentals of apartments in prime central London's most exclusive neighborhoods by finance professionals, historically the mainstay of the market, stalled during the credit crunch when employment in the sector fell by around one third...foreign students have picked up the slack."

In truth, most students can't afford to pay these outrageous rates for a flat. But many of the most affluent students are willing to pay over £1,000 each week for access to the best accommodations while they are studying.

So how much is a typical London flat? The sky's the limit and it really all depends on what you can afford. Some university students are choosing the smaller, more traditional student apartment experience while others are able to afford the very best that London has to offer. One thing is for sure, no matter which one you choose your university living experience in the historic city of London will be tough to beat.

Share with friends