Investors in London’s real estate market, including a number of Malaysians, are looking to make a killing with short-term leases when the Olympics arrive in the city in late July.
Rentals are expected to be three to four times the usual rate, Henry Butcher Real Estate (Damansara) Sdn Bhd told the (Malaysia) Star. Director Jazmine Goh said that some clients have brought up the opportunity.
“It will be a bonus for three months around that time,” she said.
Among some of her projects that will be nearing completion include The MatchMakers Wharf in Stratford, located 1.5km from the Olympic Village, Pacific Court in Caspian Wharf, Bow, and New Festival Quarter, Bow Common Lane, Bow. These projects will be nearing completion.
Usually, the rental rate is about £200 to £250 (US$316 to US$395) per week for these units, which are located far out of the city. Central London prices will be even higher.