What do people think of this?

[LuluBlakey1]

I think it is an example of how greedy people who rent out 'property' have become. It's exploitative and sums up the culture that exists in this country today about greed for money by exploiting other people.

https://www.rightmove.co.uk/properties/145204409

I think it’s poorly furnished. Has potential if more minimally styled/reorganized. Location location location.

It's a bedsit for 1400. Shocking.

Wow the description 🤣

• Introducing a contemporary one-bedroom apartment situated on the first floor in the heart of Bethnal Green. Perfect for discerning individuals and couples seeking a sophisticated yet comfortable living space, this stylish flat features an impeccably designed open-plan kitchen seamlessly integrated with a luminous living area.

It’s basically a bedroom with a kitchen plonked round the edge and you’ll pay more than my mortgage (on a 4 bed detached) for the privilege of living there. It’s crazy.

I agree with others that it's badly furnished but I don't think it's that outrageous. Looking at SpareRoom, a room in a flat share in the area would be around £800-1000. That's sharing facilities with 2-4 other people and all of those flats are also fairly small and not well furnished or kept.

You obviously pay a premium to have your own space rather than a shared one. £1400 is a bit steep but not appalling.

Tenant pays council tax - is that normal?? Adds a fair whack. Utilities included though

It includes electricity and water. So that’s quite useful for budgeting.

Maybe fairer to compare it with a hotel in the area, around £75 a night bottom rate, and no cooking facilités. If it was cleaned and tidied it wouldn’t be that bad.

It’s basically a bedroom with a kitchen plonked round the edge and you’ll pay more than my mortgage (on a 4 bed detached) for the privilege of living there. It’s crazy.

I agree (also have a 4 bed house with that mortgage) but it's London so obviously the best place ever to live and there are no jobs in the rest of the country so no wonder property is so cheap blah blah blah.

Not unusual for self-contained accommodation in inner London.
As others have said I know people paying over £1k per month plus bills for a room in a house share in that kind of area.
This is what my kids and many other young people are up against if am they want to live in their own city, but not in the family home.

It's sad that people have to live like that if they want to be fairly central in London, even those that can afford £1,400 each month on rent.

This is what my kids and many other young people are up against if am they want to live in their own city

People have always moved away from their families to improve their standard of living. This has been the reality in rural locations for decades (probably centuries). What's unusual is that it's now affecting Londoners.

Yes.

Who do you think pays council tax?

If nobody is prepared to pay this price then , yes, it’s unacceptable, by definition. But people are, so should landlords accept rents below market rate to help strangers. How much are you prepared to put into the pot to avoid this.

Unfortunately this is the London rental market. It will be snapped up. It's actually cheap for something relatively central

My younger brother has been looking and this price point is now standard. He's on £62k at 28yo and still being overlooked by landlords.

Thankfully we own in West London and have spare rooms so he's staying with us in our family home until he finds something. I'm only a few years older and when I was buying my first flat at 29 less than a decade ago my rent was £865pcm in zone 2 and that was expensive. The market is a joke right now

Again, how much money are you prepared to give to subsidise tennants ?

My son has a small room in a shared house with three other people, in Limehouse. It’s £1400 pm, shared small kitchen and bathroom.
London is expensive and it’s hard.

In olden times, people moved to cities for better jobs, not away from their jobs just to be able to afford put a roof over their heads (which is what is happening now). In 21st century London, the jobs are here, but so many can't afford to live here.

I'm confused what the issue is here - if that's the market rent then whilst it might be extortionate compared to what you pay, not sure how it's an example of landlord greed just bonkers property market. If you have a property to rent out then unless you are a charity or very wealthy, then you presumably want the most income possible.

Small 1 bed flat in central London £3k pcm www.rightmove.co.uk/properties/144829172

Similar are selling around c.£700k to buy, annual service charge over £3k pa so hardly a huge earner.

My DS lives in a very similar flat.

It seems to be what they cost.

I know that block and the service charge is about 12k a year but they do have a porter plus heating is included

£1,400 for a bedsit?! It's very luxurious compared with the bedsits that some of my friends lived in, in the '70s, but even so that price is shocking!

Perhaps it's because people want higher standards nowadays. In the '70s, my friends' bedsits didn't have central heating and had no bathrooms or kitchens - in those days kitchen and bathroom facilities were shared with other tenants in the building and the heating was either a plug-in radiator or maybe an ancient (and useless and probably dangerous) gas fire.

However, in the '70s bedsits were cheap, probably about £12 a week rent. Bethnal Green would have been even cheaper, as it was a very downmarket area, as were many other parts of London that have since become fashionable (e.g. Islington, Holloway, Crouch End, Hornsey, Notting Hill, Camden and the like would all have been as cheap as chips because nobody particularly wanted to live there).

Prices started getting silly in the 1990s. A family member was living in London about 20 years ago and lived in a single room in a shared house, where the kitchen and bathroom were shared between 4 people. Their share of the rent was £800 a month. I dread to think what it might be now!