LONDON—If you have to pay an extra £500 per month to live in an exclusive hotel, you might want to rethink.
That’s because it can mean you’re missing out on the perks of being in the country for a year.
In a new study, the Institute for Fiscal Studies found that by the time the study was done, nearly half of the 1,800 luxury apartments in the U.K. were “dying” to rent, with a staggering 20% of the total.
The study, which looked at the average rent of a property in the city of London, examined the properties with the most expensive units, which includes those on the High Street and in the more expensive suburbs.
As the study notes, some of the highest-priced apartments were in the former Royal Palms, which have been used as luxury digs since the 1980s.
For example, the average unit cost more than $2.4 million in 2010, according to the survey.
For more, check out Bloomberg Businessweek’s article: How to avoid dying to rent luxury apartments, valentino flats,valentinor flats article