LONDON’S playground of the super-rich has always been a place that ordinary mortals – even high-earning ones – would rarely consider within their reach.
But times have changed, and with them, Mayfair’s rental prices, which have dropped 15-20 per cent since their peak in 2007. Charity Delves, lettings manager at Mayfair estate agent Wetherell, says: “There are many properties on the market so competition is high. Therefore properties must be of a high standard – people are not putting up with mediocre finishes. Also, key to people’s requirements is space, so one bedroom properties are taking longer to rent.”
Now that Mayfair prices have gone down, a new breed of resident is being drawn to the area.
“There have been a few ‘fashion’ types looking in Mayfair with very specific requirements,” says Delves. “They want to be as close to Mount Street as possible. There have also been young Euro-students who have been renting in Marylebone, but now want to be in Mayfair – again, around Mount Street – as it is lively.”
For those who dream of a Mayfair address, then it seems that this is the time to make that dream come true.
Price: £2,000 per week
Over 3,500 square feet and four floors, with garage, private gardens and top specs. Think Lutron lighting and multi-room audio systems. Contact: Wetherell, 020 7493 6935
Price: £3,800 per week
Palatial three-bedroom flat, furnished in luxurious, traditional style. Guest cloakroom and master ensuite are nice touches.
Contact: Wetherell, 020 7493 6935
Price: £700 per week
Furnished, two-bed, two-bath, first floor flat recently refurbished, with 24 hour porter. Moments from Green Park Tube – would make an ideal pied-a-terre
Contact: Knight Frank Mayfair, 020 7499 1012