Upcoming Summer Olympics Helps Set Real Estate Records In Britain

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A home in London’s Mayfair district will likely set a record-breaking rent of 433,000 pounds ($678,400) per month in accordance with the demand for space during the summer Olympics.

The seven-bedroom home has the floor space equivalent to three-and-a-half tennis courts spread over three floors. It includes a swimming pool, movie theater and seven bedrooms to accompany each bedroom.

In addition to a six-bedroom flat near the world-famous Harrods department store that features the same priced rent, the Mayfair home is the most expensive on the findaproperty.com Web site. The site displays houses being marketed by major agents.

The house will likely attract overseas interest from individuals in the Far East, Middle East and Russia. London homeowners are increasing rent by up to six times to meet demand for an estimated 11 million sports fans, media and corporate clients who venture to London for the world’s largest sporting event.

The total Olympics rental market could be worth 314 million pounds.

Source: Reuters

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