Americans, Chinese and Israeli tenants are helping to drive demand in London’s super prime lettings market according to one agency in the capital.
Aston Chase defines the tenants as those renting homes costing £10,000 or more a week, typically for properties that are fully furnished.
The agency reports that whilst the predicted mass exodus of Americans from the U.S. to London due to the ‘Trump effect’ hasn’t yet materialised, Americans nonetheless make up the majority of super prime overseas renters in London.
Their clear location preference is St John’s Wood – close to the American School in London – and they regard air-conditioning in particular as a non-negotiable must-have. Safe and discreet access and exit from the home are also often key requisites, with gated properties and internal garages in demand.
The agency also reports that ultra-wealthy Chinese tenants – who represent the second largest share of PCL overseas renters – have been taking a ‘wait and see’ approach to the London property market and have shifted from outright purchases to luxury rentals.
Chinese tenants express a clear preference for London homes with square dining rooms and large circular dining tables, and gas hobs.
The agency also observes that a significant number of Israelis are currently drawn to London, to escape conflicts in the Middle East. Most want to be close to family and friends, with many living in the North West London enclaves of St John’s Wood and Hampstead.
The agency adds that whilst some UK non-doms have left the London property scene altogether – citing Labour policies on taxation and stamp duty – London’s relative safety, attractive environment for family life, excellent education and multicultural society means a home here is still highly desirable.
An agency spokesperson says: “The great Trump exodus from the US that was predicted hasn’t yet materialised, but we are seeing an increased demand from American tenants, who have taken over from the Chinese as the lead overseas tenant demographic in 2025.”
Lettings deals agreed by Aston Chase in the past 12 months include a Highgate home fetching £32,500 per week and a Hampstead Village home for £30,000-plus per week, both off-market.
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