With the Olympics still more than four months away, booking enquiries for London rental properties during July and August have increased by a massive 695 percent compared to the same period last year.
As the date of the Games loom large, UK holiday rentals website HomeAway.co.uk is expecting that London homeowners will see an even greater influx of enquiries as tourists from around the world look to finalise their travel plans. On HomeAway.co.uk, the top ten source markets for London booking enquiries for July and August are the USA, UK, Netherlands, Germany, Australia, France, Italy, Spain, Canada and Belgium.
Andy Cockburn, Regional Director for HomeAway UK, said, "Many owners have reported that they are already completely booked up, with rents of between 70 percent to 200 percent higher than standard being achieved. Even with these higher rates, rentals still provide unrivalled value for money when compared to local hotels. It is little wonder London homeowners are experiencing record demand."
Properties available for rent range from smaller flats and houses in the outer boroughs and suburbs from around £1,000 (S$1,980) per week, to large luxury houses with prices in excess of £15,000 (S$29,700) per week.
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