The firm has offices in China, Hong Kong, Malaysia, India and Singapore and Director Marc von Grundherr says that the return of students from overseas saw enquiry levels soar in Q3 2021.
He cites Benham’s presence and brand awareness in far east markets as the reason why his agency is bucking the rental trend and as the reason that it is attracting more than its fair share of student tenants.
During the third quarter of this year, Benham and Reeves saw a 67% increase in the volume of properties let to tenants compared to 2020, a 22.7% increase versus the pre-pandemic levels of 2019 and a 10% - 20% growth in re-let prices achieved by landlords compared to how they were prior to the pandemic.
Marc von Grundherr, Director of Benham and Reeves, commented: “Our lead levels and volume of rental transactions were up by a phenomenal amount in the last quarter but not just versus 2020, an odd year for obvious reasons, but on the same period in 2019.
"It seems that overseas students are piling back into the London rental market via our offices having been forced to stay away for 18 months and this has led to our best quarter’s performance ever.
More importantly, re-let rental prices for our landlord clients are between 10% and 20% higher than pre-pandemic levels too and so the requirement to slash rental expectations simply to secure a tenant is no longer.”
