Luxury house rents in prime central London have risen sharply during the first half of 2026, according to new figures from Beauchamp Estates.
The agency’s latest Millionaires Letting in London Survey found that the average achieved rent for luxury houses reached £4,177 a week between January and June. This represents a 67.15% increase compared with the same period in 2025, equivalent to an annual rent of around £217,204.
Luxury flats and penthouses also recorded growth, although at a slower rate. Average weekly rents reached £1,957, marking a 15.12% increase year on year.
Fewer Luxury Homes Being Let
Despite the rise in average rents, the number of high-value properties being let has fallen.
Beauchamp Estates recorded 1,911 properties rented for more than £1,000 a week during the first six months of 2026. This compares with 3,442 during the same period last year, representing a fall of 44.48%.
The figures only cover properties achieving rents above £1,000 a week, so they do not provide a complete picture of London’s wider rental market.
However, they highlight an interesting trend within the luxury sector. Fewer properties were let, but the homes that did secure tenants achieved considerably higher rents.
What Luxury Tenants Are Looking For
The report suggests that properties offering high-quality features are attracting strong demand from wealthy tenants.
For houses, Beauchamp Estates identifies five or more bedrooms, air conditioning, leisure facilities and private outdoor space among the features most sought after.
For luxury apartments and penthouses, demand is particularly focused on properties with at least three bedrooms, air conditioning, concierge services and facilities such as gyms and swimming pools.
The agency also reported a 125% annual increase in lettings agreed above £4,000 a week through its Mayfair office in May.
This is an agency-specific figure rather than a measure of the wider London market, but it supports the broader trend of strong demand for well-presented, high-specification homes.
International Demand Remains Strong
International tenants continue to play an important role in London’s prime rental market.
Beauchamp Estates reported a 30% increase in applicants from the Middle East during 2026, alongside a 20% rise in applicants from the United States and a 5% increase from China.
The agency also says that around seven in 10 households within this ultra-prime market are choosing to rent rather than buy.
These figures relate specifically to Beauchamp’s high-end customer base and should not be taken as representative of London’s wider rental market.
What Does This Mean for Landlords?
The latest figures could provide useful guidance for landlords with luxury properties in central London, but they should be viewed in context.
The £4,177 weekly average applies to a relatively small and expensive section of the market. It does not mean that landlords across prime London can automatically increase rents by a similar amount.
Property condition, location, size, specification and the level of competition from similar homes will all affect the achievable rent.
The sharp fall in the number of completed high-value lettings also suggests that landlords should continue to monitor demand and available stock rather than relying solely on headline rental growth.
For owners of high-specification properties, however, the figures indicate that there remains strong demand at the top end of London’s rental market, particularly for homes offering the features and amenities sought by wealthy international tenants.
Download NOW
4 Simple Steps To Becoming Wealthy Through Property