London exodus: this is what is happening
You know, London has never been cheap. But we never thought we had to talk about a real exodus that this city is experiencing. The effects of the pandemic emergency were important. And even now that it seems to see some light in the midst of this chaos, the situation has not changed. The data speak for themselves: most citizens want to leave their homes, to look for much cheaper accommodations. Maybe even bigger. Suffice it to say that according to statistical surveys, 13% of workers in smart working have already decided to relocate to peripheral areas.
This is because most companies want to maintain this type of alternative corporate layout remotely, to save on fixed costs. But the critical element is not just for those forced to leave. The payment collapse is also the one reported by the owners of the rental properties, who in turn saw the interest curve plummet. In other words, the roommates of beautiful London disappear, and flock to the more convenient neighboring areas. It should also be remembered that when we talk about a large metropolis like London, it must be divided into macro areas. South East London, for example, is once again experiencing a very serious second wave from Covid-19, which is why, despite the first vaccinations having already taken place, new restrictions have been applied and announced. But not only. In a city where room sharing is the most popular, nearly half of the tenants have decided to leave the London capital forever. The reasons are essentially two: the first, the excessive cost of living, the second, the blocking of teaching activities in the presence and therefore the need not to remain on site to follow the lessons.
Another category taken into consideration is that of foreign workers who had recently taken that step in order to become full-fledged London citizens. Well, many of these, not being able to find lasting employment, were forced to abandon their dream of reallocation abroad. The numbers?
About 49% of the foreigners recently arrived in this land had to make a change of direction. Moreover, due to these circumstances, London is losing its charm even for the wealthiest. Precisely because it is less popular than a few years ago. A new rent increase can therefore be ruled out. There are two hypotheses. The first is that relating to a rapid and immediate lowering of prices. The second, the withdrawal of many advertisements from the various portals, in order to avoid a devaluation of the property itself. A total change in the London and British economy is therefore assumed, also due to the Brexit effect. But, will these changes be enough to regain the fame of the past? To find out, stay updated daily on our portal. Numerous news on the real estate world every day, even in this period of strong pandemic crisis. You will always find us here, always with Realigro!
This is because most companies want to maintain this type of alternative corporate layout remotely, to save on fixed costs. But the critical element is not just for those forced to leave. The payment collapse is also the one reported by the owners of the rental properties, who in turn saw the interest curve plummet. In other words, the roommates of beautiful London disappear, and flock to the more convenient neighboring areas. It should also be remembered that when we talk about a large metropolis like London, it must be divided into macro areas. South East London, for example, is once again experiencing a very serious second wave from Covid-19, which is why, despite the first vaccinations having already taken place, new restrictions have been applied and announced. But not only. In a city where room sharing is the most popular, nearly half of the tenants have decided to leave the London capital forever. The reasons are essentially two: the first, the excessive cost of living, the second, the blocking of teaching activities in the presence and therefore the need not to remain on site to follow the lessons.
Another category taken into consideration is that of foreign workers who had recently taken that step in order to become full-fledged London citizens. Well, many of these, not being able to find lasting employment, were forced to abandon their dream of reallocation abroad. The numbers?
About 49% of the foreigners recently arrived in this land had to make a change of direction. Moreover, due to these circumstances, London is losing its charm even for the wealthiest. Precisely because it is less popular than a few years ago. A new rent increase can therefore be ruled out. There are two hypotheses. The first is that relating to a rapid and immediate lowering of prices. The second, the withdrawal of many advertisements from the various portals, in order to avoid a devaluation of the property itself. A total change in the London and British economy is therefore assumed, also due to the Brexit effect. But, will these changes be enough to regain the fame of the past? To find out, stay updated daily on our portal. Numerous news on the real estate world every day, even in this period of strong pandemic crisis. You will always find us here, always with Realigro!
