South Kensington is one of the most visited areas in London, which is no surprise considering it’s home to some of the world’s most famous museums, including the Natural History Museum, the Science Museum and the Victoria and Albert Museum.
We recently conducted a study, based on Hostmaker homes, to find out which areas in London were calculated as the most profitable for landlords and their short-term lets. Hostmakers study found that South Kensington came out as the number one London neighbourhood, bringing in an astounding average gross revenue of £8,232 per month.
Following behind South Kensington as the best neighbourhoods for short-term lets included Covent Garden, with Belgravia, Marylebone and Bayswater, which all made the top 5 for highest earning potential. The most in-demand area for short-lets is Camden Town, averaging a rate of £152 a night.
Revealing his thoughts on the newly released data Hostmaker CEO, Nakul Sharma, said
“I’m not surprised by the increased demand in landlords looking to let their properties out during the festive period. It’s such a busy time for the lettings market in the city with a surge of tourists visiting the Capital.
The fact that landlords and tenants can both benefit from short term letting options in these lucrative boroughs is great, as it offers a home from home experience for those abroad at Christmas at a competitive rate whilst allowing landlords to earn additional income. A trend that looks set to rise year on year.”
With London offering something for everyone, what is it about South Kensington which makes it the number one letting destination in London this Christmas?
South Kensington sees thousands of tourists throughout the Christmas period. The most popular destination to visit this Christmas is, of course, Winter Wonderland in Hyde Park, which is only a 15-minute walk from South Kensington and welcomes over 14 million tourists every December.
The Natural History Museum brings one of the UK’s most visited ice rinks with ice skating around the Christmas tree, live music and hot, festive food. South Kensington also brings Christmas carols, the Luna Winter Cinema and many live performances for the whole family to enjoy.
How can Hostmaker help you?
Hostmaker is the leading home rental management company born with the vision to unlock the potential of every home. Hostmaker offers an end-to-end management service infused with hospitality expertise, smart algorithmic pricing technology and thoughtful interior design.
Founded by entrepreneur Nakul Sharma in 2014, Hostmaker has expanded its operations to nine international destinations to date: London, Paris, Rome, Madrid, Barcelona, Lisbon, Cannes, Florence and Bangkok, managing over 2,000 uniquely curated homes across these markets. This rapid growth placed Hostmaker at no.3 in the Deloitte UK Tech Fast 50 Awards 2018.
Our range of services can be used for primary homes, secondary homes or a collection of homes to ensure your stresses are effectively handled. This means you can focus on all the enjoyable aspects of being a landlord in the lucrative London area. Get in touch with us today to see how we can help you.