A Traditional Wealthy Village Similar to Seorae Village in Korea
Home to Actors Jude Law, Daniel Craig, and Others
As real estate prices and rents soar in affluent London neighborhoods densely populated by the wealthy, the price of the apartment where footballer Son Heung-min (Tottenham) resides in a British upscale area is also attracting attention.
In the 15th episode of Channel A's entertainment show 'Living in Another Country - The Family That Crossed the Line,' aired on the 5th, the couple Park Gyuri and Chavi, who live in London, embarked on a tour with the goal of "meeting Son Heung-min in London and getting his autograph."
The broadcast revealed Hampstead, a wealthy neighborhood in the northern part of London, UK. Hampstead, a neighborhood similar to Seorae Village in Korea, is home to many celebrities including Son Heung-min, actors Jude Law and Daniel Craig. Surrounded by Hampstead Heath Park, famous as the filming location of the movie 'Notting Hill,' it is a high-end residential area favored by the affluent.
It is reported that Son Heung-min's home is equipped with a swimming pool, jacuzzi, and 24-hour concierge service. Additionally, common facilities such as a gym, lounge, and business meeting rooms are fully equipped.
On the show, Chavi said, "I don't know if the luxury apartment where Son Heung-min lives is rented or owned, but if owned, it is worth about 13 billion Korean won, and if rented, the monthly rent is 100 million won." Then Peter, who is from the UK, said, "London house prices are really unbelievable."
In the tvN program 'Free Doctor' aired in September last year, it was reported that Son Heung-min has been living in the apartment since 2019. The type of residence Son Heung-min lives in is called a 'flat' in the UK. It is said that he lives there with his family in one unit of a building housing 20 households.
West London areas such as Hampstead, Kensington, Chelsea, Mayfair, Bayswater, and Notting Hill are considered traditional affluent neighborhoods. Streets and gardens are well maintained, and security facilities such as closed-circuit television (CCTV) are also installed.
Rents in British affluent neighborhoods are also skyrocketing. According to a report by real estate investment company Beauchamp Estates, wealthy individuals paid 15 million pounds (about 25 billion Korean won) in luxury home rents in the first half of last year alone. During the same period, rents in central London rose 8.8% compared to the previous year. This is a 30% increase compared to before the COVID-19 pandemic. Ultra-high-end residential rents range from 5,000 pounds (about 8.6 million won) to 30,000 pounds (about 50 million won).
A Beauchamp Estates official explained, "Due to concerns about rising loan interest rates, acquisition taxes, and capital gains taxes, people prefer renting over buying homes." He added, "The rental market has prospered due to prominent rental activities by ultra-high-net-worth individuals from the US, China, and the Middle East."
This year, the market is characterized by strong demand and soaring rents in the ultra-prime rental market, along with a shortage of supply. As a result, the Wall Street Journal (WSJ) analyzed that competition among tenants is fierce, especially in areas with limited housing supply, as rental listings sharply decrease.
There have even been cases where tenants sent resumes listing their education and work experience to real estate agencies to gain favor with landlords. WSJ reported, "In the UK housing sales market, buyers have used cover letters to appeal to sellers when purchasing desirable properties, and this practice is now occurring in the rental market as well."
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