This European city sees a house rental record of ₹3 lakh per month. read here

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Residents of London, the capital of Great Britain, have been struggling with the rising costs of living incurred by the city of late. However, a shocking fact has come to light, which claims that rent in the London capital has risen to a record $2.5 lakhs and up $3 lakhs in the inner circle of the city.

Boasting old-world charm with winsome cobblestone lanes juxtaposed against quaint modernist architecture, London has now seen house rents soar to a record high. $3 lakhs per month.

According to, the owners are asking a record rent of £1,172 per month. Experts have also warned that these rates will continue to rise in the coming months.

Property portal Rightmove has stated that asking rents in Britain will rise a further 5% by 2023 due to the current imbalance between the number of people looking to rent and the number of rental properties available.

“Last year saw the second highest annual rental growth ever recorded, with median rents for newly listed properties outside London rising by 9.7%. This comes after 2021 saw the highest year-over-year increase of 9.9%,” the news outlet reported. citing the real estate portal Rightmove. quoted Rightmove’s Tim Bannister as saying: “Although the fierce competition among tenants to find a home is starting to abate, it is still double the level it was in 2019.

“Real estate agents are seeing extremely high volumes of tenant inquiries and dealing with dozens of potential tenants for every available property.”

“Landlords will need to balance rent increases with what tenants can afford in their local area to continue to find tenants quickly and avoid periods when their home is empty due to tenants not being able to meet their requested rent,” it said. Rightmove’s director of property science, Tim Bannister.

“It looks like there are more property options for renters compared to last year’s record low levels, which should alleviate some of the fierce competition to secure a home.”

Rental fees are so high that some people use them as a side hustle to earn extra money. A few days ago, a report in the Metro News said that a London banker had made $ 7,000.00 for renting two unused parking spaces at his home in Dalston, East London, for six years. He advertises slots monthly for $ 10,000 and all you have to do is list them online.

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