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Why Rent Prices in London are Soaring: Exploring the Factors Behind the Skyrocketing Rates
Feb 06 2023
Rents in London have surged to unprecedented levels, with the median asking rent for a two-bedroom flat in December 2022 reaching £2,400 ($2,895), a significant increase from the pre-pandemic rate of £1,900 ($2,292). CNBC Make It. conducted interviews with two London residents who experienced rent hikes of up to 27%. This video delves into the factors contributing to the soaring rental prices in the city.
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