London’s rental market experienced a significant correction in 2021, with prices falling by up to 25% in some central districts. This marked one of the most notable shifts in the capital’s property landscape in decades.
The decline was primarily driven by changing lifestyles and the rise of remote working. As professionals relocated outside major cities, demand for central London properties dropped, particularly in areas traditionally favoured by international tenants and corporate renters.
Another major factor was the reduced influx of overseas students and expatriates, leading to an oversupply of rental properties in prime neighbourhoods such as Kensington, Chelsea, Mayfair and Canary Wharf.
Landlords were forced to adapt quickly, offering rent reductions, flexible lease terms and additional incentives to attract tenants. For renters, this created a rare window of opportunity to secure premium properties at significantly reduced prices.
Despite the drop, experts believe this correction represents a temporary market adjustment rather than a long-term decline. London remains one of the world’s most resilient and desirable real estate markets, and demand is expected to rebound as international mobility returns.
For investors and tenants alike, this period highlights how global events can reshape even the most established property markets.
Source: https://lepetitjournal.com/londres/chute-du-prix-des-locations-londres-jusqua-25-296781