68 and 72 Cadogan Square (c) George P. Landow, The Victorian Web

Even the prestigious Cadogan Square in Knightsbridge SW1X is struggling to find new tenants, reports Times Online. They found 31 apartments available to rent, 10 of which have come on the market in the past three weeks.

“It’s the middle tier that has been hit hardest,” says Jane Ingram, head of lettings at Savills. “Properties like the ones on Cadogan Square, which previously went for between £1,000 and £2,500 a week to City high-flyers, are languishing on the market.”

Rents are coming down by at least 10%, if not 20%, according to Ingram – “And because you’ve got the stock coming through from the sales market, as well as lower tenant demand, things are just sitting there.”

The lower, “bread and butter” end – properties that let for less than £650 a week – is still active, as is the top tier – more than £3,000 a week in upmarket areas or above £1,500 everywhere else in the capital.

Read the full article: High-end London rents are falling

Nestoria property search engine lists 432 properties to rent in Cadogan Square. Click here to browse.

This entry was posted on Sunday, October 26th, 2008 at 8:29 pm and is filed under Rent. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.