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Times
a day ago
- Business
- Times
‘Try before you buy': the new property trend loved by the super-rich
'Madame,' Marcel Proust wrote to his noisy upstairs neighbour in the summer of 1915, 'I had ordered these flowers for you and I am in despair that they are coming on a day when… I feel so ill that I would like to ask you for silence… causing them to lose all their fragrance… and bristle with nasty thorns.' For many of us the ills of close-quartered London living are just as prosaic as they were for the French writer over a century ago, delicately navigating the upstairs harpist's playing and her dentist husband's drill, as he flattered them into a peace that would let him finish In Search of Lost Time, his masterpiece. However, a new trend might hold the answer, for the uber-wealthy at least. Prime and super-prime real estate agents — broadly defined as those selling properties over £5 million and £10 million respectively — are seeing a rise in high and ultra-high-net-worth individuals negotiating the right to 'try before you buy' — renting a luxury home before taking the purchasing plunge. Francesca Fox, the director of lettings at Sotheby's International Realty, says the trend started last year but has accelerated 'like wildfire' in 2025, driven mainly by international clients looking to relocate to London but increasingly concerned by high property purchase costs in the UK, potential changes to the non-dom rules, international wars and the whims of their own governments' attitudes to taxation and business. With such slings and arrows, it makes sense to keep their roots shallow, for now. It's not just Sotheby's that has spotted this trend — Knight Frank agrees it's on the rise. Tom Smith, the head of super-prime lettings, says that in the last fifteen months four properties have sold to their former tenants, with two more looking to buy having tried the approach. That might not sound like much, but this is a very small, niche market. Tom says that about 10 to 15 per cent of his clients are having these conversations now, whereas, 15 months ago, it 'just wasn't happening'. The deals can be structured in a few ways — a simple gentleman's agreement, a right of first refusal where a keen renter can buy if the owner decides to sell, or a purchase right built into a tenancy agreement, often with an agreed price or terms, but sometimes with the final price set once the tenant 'triggers' their option. As can be imagined when you're spending many millions, things are pretty bespoke — despite the growth in popularity, there's lots of flexibility in how these agreements are structured. Fox estimates that 80 to 90 per cent of the homes on her books were originally listed as sale only, but now she is offering them to rent. Tenants tend to test-drive their homes for no more than 24 months before deciding to buy, usually after 6 to 12 months. The majority of homes are rented furnished — if people are uncertain about long-term plans they don't want to invest in blinds, bookends and artworks. Although Fox says several super-prime homes have recently sold with the furniture included too, and those sellers have themselves gone on to rent fully furnished homes while they decide whether to buy a new place or relocate. Flexibility is the name of the game in today's market. • Read more expert advice on property, interiors and home improvement Psychologically this desire to try before we buy makes sense. We put far more effort into assessing risk — and therein avoiding loss — than we do into trying to gain something, says the consumer psychologist Dr Helen Watts. The type of person we are matters too. 'Some people are very high on what's called an external locus of control. And this means that if something goes wrong they find it much easier to say, well, it wasn't really my fault, it's to do with the environment,' she explains. 'But others have a high internal locus of control, where they feel that everything that goes wrong or right is to do with themselves.' It's these people, Watts thinks, who feel the pain of a loss more personally and are thus more likely to give a product — or a £20 million townhouse — a renting whirl first. And what of the properties themselves? Buyers are usually looking for six to eight bedrooms, Fox says. A lot of properties have pools, cinemas and private gardens. The wellness craze is driving an interest in spa facilities too — cold water pool plunges, saunas and, increasingly, hammam spas. The latest must-have is a private driveway because of the high rates of car theft, though some are mitigating that risk by simply hiring chauffeurs. One property on offer from Sotheby's is an eight-bed, nine-bath, 8,825 sq ft home on Sheldon Avenue in Highgate, north London. If a triple-height reception hall with a sweeping staircase and two galleried landings is your thing, it's available to rent on a short let basis for £25,000 a week. There's also a two-storey orangery and a pool. Another property currently looking for a tenant — and hopefully one who will ultimately buy — is 1 Hanover Terrace. With 6,730 sq ft of living space it's a touch larger than the average London home's 850 sq ft. Plus, there are six bedrooms and nine bathrooms, a cinema, gym, sauna, double garage and a separate mews house for staff — or all the friends who'll try to come and stay with you when you're living in Regent's Park. Its owner — the Addison Lee founder, Sir John Griffin — moved in in 2013. 'Living there is very peaceful. The view of the lake is mesmerising.' And has he had any problems with noisy neighbours? 'None whatsoever. If anyone misbehaves, I am sure that Damian Hirst [a neighbour] could place them in a tank.' Approaching his eighties and in search of a quieter life in the countryside, Griffin listed the mansion for sale at £29 million in 2022. It failed to sell and can now be rented for £75,000 a month. To top it off it was designed by John Nash in 1811, who also has Buckingham Palace on his CV. There are some potential downsides to all this flexibility. 'From a psychological point of view it can be very draining,' says Watts, highlighting how easily we now return everything from a cashmere jumper to a floor lamp — many of Ikea's items now have a full 365-day returns policy. 'We are in this perpetual state of questioning 'do I still want to own this?' and that can be quite wearing for consumers.' And what might have become of Proust if he had rented first, ditched his apartment at the first pluck of a harp string and spent more time writing. In Search of Lost Time, Volume Two perhaps?
Daily Mail
25-06-2025
- Business
- Daily Mail
The 15 hotspots worth leaving London for picked by property experts for their MUCH cheaper prices and fantastic quality of life
When it comes to living in a trendy postcode, London seems to have it all, from craft coffee and sourdough on demand to boutique fitness studios and stylish eateries. But for many, living this dream comes at an eye-watering cost. In fact, according to research from Santander one in four first-time buyers are now leaving the capital in search of something more attainable.
Times
23-05-2025
- Times
22 of the best Airbnbs in London
In a big, dense city like London, it's worth stepping out of the hotel scene and living like a local, courtesy of a fabulous apartment rental. Not only will you find more spacious and unique living quarters using the likes of Airbnb, Vrbo and Plum Guide, you'll also be able to save money by self-catering; gather bespoke local tips from the property's owners; and be closer to relaxed, authentic dining scenes. It's a great way to absorb plenty of distinctive London character, too, via nearby food markets, galleries, street art or indie boutiques. Whether you're after a snug pied-à-terre for two in the centre of town or a group-sized house in a leafy residential area, here are some of the best real Londoners' homes available to borrow — including the striking interiors of an architect's passion project and classically lavish townhouses in Chelsea or Notting Hill. These are some of the best Airbnbs in London, plus other luxury rentals. This article contains affiliate links, which may earn us revenue £££ | Sleeps 10 For a family reunion or group getaway, areas like Fulham, Notting Hill and Islington are stacked with clan-sized townhouses, often with gardens and huge dining tables to gather around. Along one of Notting Hill's much-photographed rows of pastel townhouses, this home sleeps up to ten people across four bedrooms and a double sofabed. It's beautifully light and bright with neutral, creamy walls but plenty of character across skylights, period fireplaces and a fairy-lit roof terrace. You'll find it a few steps from Portobello Road, which buzzes with antiques vendors and Sunday lunchers at weekends; it also comes with a range of baby and toddler amenities such as a travel cot and high chair. • Discover our full guide to London ££ | Sleeps 4 Climb a narrow, winding staircase to reach this one-bedroom apartment in WC1, a sunny space overhauled by Hollie Bowden, an interior designer who has styled homes for clientele including FKA Twigs. The space, which sleeps four, unfolds over the fifth and sixth floors of a Victorian townhouse, off Seven Dials in the West End. Bowden's design nods to retro-futurist and art deco movements, with vintage pieces including a 1970s De Sede sofabed and a pair of Mario Bellini's Amanta armchairs in the living room, which has a pull-down projector screen. The buttermilk-yellow kitchen is kitted out with dining chairs by Shiro Kuramata arranged around the aluminium-rosewood dining table. Erotic photos by Ren Hang add a sexy touch. Up on the mezzanine level the sleeping area can be hidden with veneer-clad sliding panels, while rooftop views from a private terrace are as central London as it gets. For breakfast, grab pear and turmeric porridge from 26 Grains or doughnuts from St John Bakery in Neal's Yard. Close by, Parsons restaurant is Bowden's fave, an unassuming fish place. ££ | Sleeps 4 Anyone who's binge-watched Ted Lasso in recent years knows that Richmond-upon-Thames is the place to be, with a swish riverside scene, cobbled streets and expansive green spaces to explore. For a bit of city-meets-countryside, book Finest Retreats Hill Rise, a stylish two-bedroom apartment with distinctive, peppy decor including Spanish-style tiling, welly-green feature walls and London-inspired art. On your doorstep are the deer-stalked Richmond Park, Kew Gardens and the stately Ham House; back at home, a comfy living area awaits for movie nights and a spacious kitchen for food prep. It's pet-friendly, too, so make the most of those riverside walks.££ | Sleeps 2 Home to an artist couple, this old workshop space sleeping two just off the main strip in the trendy-but-gritty southeast London area of Deptford has been transformed by the Dutch architect Julius Taminiau with a fluid combination of sliding doors and walls. It's all oak plywood, lime plaster and steel-framed windows, plus an indoor patio with a skylight to make up for the lack of garden. London Bridge is a seven-minute train ride away, Blackheath and Greenwich Park are close. In Deptford, eat banh xeo (Vietnamese pancakes) at Eat Vietnam Bar-B-Grill or divine bowls of pasta at Marcella. Staying in? The flat has a piano and a projector for film nights.££ | Sleeps 2 With the glimmering Shard and endless feasts inside Borough Market, SE1 is a sought-after postcode — and this one-bed stay in the area, a red-brick artist's loft, looks like a work of art at every turn. Bohemian antique furniture, factory-style windows, copper kitchenware and a freestanding bathtub combine to create the ultimate starving-artist-luxe aesthetic. The photographer owner, Natalie, can organise local experiences from cooking courses to massages or acupuncture; and it's a short stroll to London gems Tate Modern, the Bridge Theatre and Shakespeare's Globe. • Great boutique hotels in London• Best places for afternoon tea in London ££ | Sleeps 3 On a tree-lined street in a village-like neighbourhood in north London once home to Samuel Pepys, Daniel Defoe and Mary Wollstonecraft, this airy pad for three is a super base for a laid-back weekend of flânerie in Islington and east London. The decor of this dog-friendly apartment has a Seventies flavour, featuring a bioethanol floating chrome fireplace, a low-slung bouclé sofa big enough for six and doors opening to the dining terrace. • More dog-friendly Airbnbs in the UK £££ | Sleeps 6 We like a Londoner who's not afraid of a splash of colour — and the owners of this pad, called the Peacock Room, absolutely love the stuff, with sofas, rugs and paintings making up a rainbow of crayon shades from sky blue to scarlet and apple green. The backdrop is gallery-style high ceilings, a mezzanine level and pared-back wooden flooring, with bright objets d'art and poster prints drawing the eye to every height. A huge living room has plenty of seating for nights in, while three bedrooms sleep up to six guests in four beds. It's in the heart of Chelsea, so King's Road shopping and great restaurants, such as Rabbit and Polpo in Chelsea, await. • Best luxury hotels in London• Best family hotels in London ££ | Sleeps 2 There's an airy aesthetic to this chic parquet-floored bolt hole for two in W11, designed by the Polish-born founder of the interiors firm Ola Jachymiak Studio. The cleverly configured 50 sq m space lies less than five minutes' walk from Portobello Road, on the same street as the blue-doored home of William Thacker (Hugh Grant) in the 1999 film Notting Hill. A pair of white leather Marcel Breuer chairs sit beside the sash windows in the lounge/diner. The apartment's shower room is teeny but the garden-facing bedroom provides mellow respite from the action of nearby Ladbroke Grove.££ | Sleeps 2 Back to trendy east London and this high-ceilinged, airy converted warehouse, just minutes away from the cutting-edge cocktail bars of Shoreditch. A one-bed made for two guests, it has a spacious living area with a vaulted, barn-like roof, plus a cosier bedroom with the interiors trend of the moment — a Togo sofa. Tall industrial windows let in plenty of light, lush plants warm up the echoing spaces, and a safe, peaceful mews location means you're off the main partygoers' trail. A lovely bath tub adds a touch of pampering.££ | Sleeps 4 North London's Finsbury Park is rarely the choice of the city's rich and famous, but the owners of this light and modern two-bed have clearly poured money into it. A large, sun-flooded terrace takes centre stage, with plush outdoor furniture and plants for a sunny day's lazing, while inside a smart white apartment is set off by charcoal grey cabinets and navy blue throws. A hyper-modern kitchen is the place to whip up dinner for that terrace, while two bathrooms give groups and couples their own space (one with a lovely bath tub). • Best Airbnbs with pools in the UK £ | Sleeps 2 If you don't mind a bit of bustle outside your window, this pared-back pied-à-terre for two beside Rosebery Avenue has everything you need for a few nights: a kitchen/living room with a concrete-topped breakfast bar, a simply tiled bathroom and a double bed — all minimalist white. At 42 sq m the Bloomsbury flat is definitely dinky, but it's a prime jumping-off point for the gastronomic delights of nearby Exmouth Market. £££ | Sleeps 4 Set across a vast 120 sq m space with a mezzanine balcony, this industrial-chic Clerkenwell stay is a sight to be seen. Under nearly 7m-high vaulted ceilings, you'll find elegantly spaced designer furniture, from an L-shaped cream sofa to a polished wooden desk, with a jet-black modern kitchen at one end and two separate bedrooms, each sleeping two, at the other. Wooden beams give the huge space a friendly feel, and you'll have Egyptian cotton bedding, Aesop bath products and fluffy guest robes. This cool, residential neighbourhood has tons to entertain you, too, from markets to museums. • Best rooftop bars in London• Best brunches in London£££ | Sleeps 4 Hampstead is where London's biggest and most established stars hang their hats, thanks to its expansive heath — perfect for walking dogs — and picture-perfect high street. Join the set in this New-York-inspired crash pad, all pastel hues and art deco touches. There's a projector for the full movie-night experience and a huge kitchen island to congregate at, not to mention a dreamy multi-level garden where you can pretend you're in the countryside. Groups of four will enjoy the rare urban treat of an end-of-garden guest house adding a second bedroom, kitchen and bathroom.£££ | Sleeps 4 Tucked away in exclusive Knightsbridge — of Harrods, Harvey Nichols and a thousand afternoon teas — two-bedroom apartment the Grand Chorus is the last word in luxury. With smooth monochromes and polished woods accented with gold in a look reminiscent of a high-end fashion boutique, it has gorgeous mirrored wardrobes and all-white shelving units that make it feel spacious. Marbled showers and a huge, deep tub make freshening up a pleasure, while little luxuries such as an espresso machine and exercise area amp up the fabulousness.££ | Sleeps 4 There's a touch of Victorian nostalgia about Keystone Crescent, this pretty townhouse on an exclusive crescent in super-central King's Cross. The rococo mirrors, embroidered rugs and painted fireplaces are zhuzhed up by modern shades of sunshine yellow and candy pink on the walls (not to mention a powder-pink bath); bookworms will be delighted by overstuffed bookshelves and a petite, Mediterranean-feel terrace to read on. King's Cross is the neighbourhood to be in at the moment, with the buzzing food and social scene around Granary Square and canalside Coal Drops Yard.£££ | Sleeps 4 This curious, character-packed apartment in Cockspur Street has an interesting history: it was once the members' club at the Norwegian Embassy, as evidenced by its historic oak panelling, plump leather sofas and period fireplace. Modern furniture and art keep it from feeling like a museum, and its two bedrooms comfortably sleep four. It's perfect for first-timers exploring London, being two minutes away from West End theatres and Covent Garden restaurants.£££ | Sleeps 8 There's always something of a fantasy to an architect's home — it may be more sharply modern or coolly impractical than your real digs, but it's fun to play house for a while. Set over three floors in Queen's Park, north London, this spectacular find has four bedrooms sleeping up to eight, amid fabulous interiors designed by the architect host, Anna. Exposed brick walls, pine-clad ceilings, burnished gold surfaces and a secret-feeling walled terrace all seem straight out of an interiors magazine. Queen's Park isn't one of London's most central neighbourhoods, but you're only a short Tube ride away from the sights.£££ | Sleeps 8 For a flashier, more modern stay, try this grand design of a penthouse in buzzy Shoreditch. Atop one of the new-build towers in the area, this two-bedroom apartment has a hot tub, communal sauna and a TV, speakers and bar on its huge wooden-decked terrace. The 13th-floor living room, with twinkling views of the capital, is the place to entertain, while each bedroom has its own balcony. A Shoreditch location means some of the best dining and nightlife in the city on your doorstep.£££ | Sleeps 4 The views from this two-bedroom apartment, sleeping four, in Chelsea stretch out over the Thames and to the London Peace Pagoda in Battersea Park beyond. The handsomely proportioned space fits four comfortably with its pair of bathrooms and bedrooms furnished with double and king-size beds respectively, a proper kitchen/diner and an open-plan living room hung with gilded oil paintings. The Saatchi Gallery and King's Road are 15 minutes' walk away for plenty of posh culinary options — Michelin Guide-approved Medlar serves modern European fare, or for something more pocket-friendly, Phat Phuc noodle bar offers streaming bowls of pho or laksa. £££ | Sleeps 3 This two-bedroom maisonette off Campden Hill Road in Kensington is ten minutes' walk from Notting Hill Gate and Kensington High Street Tube stations. Designed by Studio Krokalia, it has a high-ceilinged open-plan reception room adorned with exquisite plasterwork, a pair of Ondrej Blaha Koala armchairs and a dining table designed by Matthew Hilton, and is available to rent via Three Degrees, a free subscription-based network offering short, medium and long-term lets. The principal bedroom is grand, separated from the en suite with an oak and glass dividing wall. Excellent culinary options on the doorstep include modern Palestinian fare at Akub. ££ | Sleeps 5 Wake up to the sounds of chuntering waterfowl outside your bedroom window on Big Boat, a wide-beamed barge sleeping five moored in Little Venice. The plywood-clad boat's Japandi-inspired interiors are by its set-designer owner, Sam Barbic, with a compact kitchen kitted out with Smeg appliances and a living area decorated in Bert & May encaustic tiles. This tranquil corner of west London sits at the junction of the Grand Union and Regent's canals, within a ten-minute walk of Paddington station, and close to Camden. You will need to embrace the quirks of life on the water — the bathroom has a walk-in wet room and compost toilet, heating is via a stove. Breakfast is provided and if you don't mind squeezing in there's room for five with a double sofabed and extra mattress. £ | Sleeps 2 In a grade II listed block built in 1899 overlooking Arnold Circus, this elegant apartment for two lies a short stroll from some of Shoreditch's best places to eat: Margot Henderson's dazzling Rochelle Canteen, Smoking Goat for spicy Thai fare and Michelin-starred Clove Club. Victorian geometric tiles in the hallway, a freestanding bathtub beside the window in the bedroom and a sleek stainless steel kitchen and wood-panelled living room bring the style. Hip shopping options line nearby Redchurch Street and Spitalfields, and Columbia Road (host of the famous Sunday flower market) is close by. • Best free things to do in London• Best Airbnbs in the UK
