How much does a flat in London cost?

Finding a place to stay is often seen as the most important issue. But, in reality, there is another equally important issue: the cost of a flat in Her Majesty’s capital, London. Of course, this does not prevent London from being a city of paradise, much appreciated by its inhabitants or tourists.

Value for money: a factor influencing the cost of flats in London

Hotels in London are getting cleaner. Renovations continue unabated. Value for money is the reason. Some hotels are adding bars inside to make a difference. This encourages meeting other travellers.

Indeed, all these refurbishments and new features have the effect of increasing the cost of flats. In addition to the refurbishments or new features, the cost of housing also varies according to the geographical location of the flats. In general, to buy a studio apartment to rent in central London, the price is £ 1900. Depending on the location, this price can fall to £ 1270 and then rise to £ 2450. The rental price of a studio in the city centre is higher than the average price in France (+204%).

The cost of living in London

The cost of living in London is on average higher than in any other UK city/region.  For your information, the price per square metre in London is generally between £ 8550 and £15400. Thus, buying a home in London means agreeing to pay a considerable amount of money. As a result, many expats and students choose to rent rather than buy a London home.

Indeed, living in London is not only about housing, but also about other factors such as food, transport and health.

·         Food

Stick to the basics and note that the shopping budget can be around £150-200 per person per month.

·         Transport

In London, a monthly season ticket (travel card) for Zone 1 and Zone 2 (that means all the more central zones) costs over £120, which is a considerable budget. To save money, you can pay for the journey separately: if you prefer buses to the London Underground, then this strategy is more likely to succeed, and the London Underground is much more expensive.

·         Health

For any French person with an EHIC card, medical care is provided free of charge by professionals and the NHI (National Health Insurance) for two years. However, the NHI has a bad reputation in terms of waiting time and quality of care. People think that the private medical sector is more efficient, but it is also very expensive: you may have to pay £75-250 or £80-275 for a General Practitioner consultation. Therefore, taking out appropriate medical insurance is more than important.

Why is London so expensive?

First of all, the attractiveness of Her Majesty’s capital is above average. From a global perspective, London is more attractive than Paris. Thus, this attractiveness contributes to the increase in London property prices. Regarding the high cost of the tube, it is due to the fact that some people pay a lot so that others don’t have to pay anything (in the case of children, the elderly and veterans): this is the London policy.

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