European Tenants Returning to London’s Rental Market

Before the Brexit referendum, around one in three renters in London came from Europe – a reflection of the city’s global standing as a place to work, study, and build a life.

By mid-2022, that proportion had fallen sharply to just 14%, as uncertainty surrounding Brexit and the end of free movement led to a marked decline in international demand.

Over the past year, however, there have been early signs of recovery. Between 2023 and 2024, European nationals made up 20% of new rental agreements across the capital, suggesting that confidence is returning and that overseas tenants are beginning to look to London once again.

Figures from property platform Goodlord confirm that the initial drop in European tenants was both steep and prolonged, stretching across the post-referendum years and into the pandemic period. For some time, international mobility was restricted and confidence in the UK rental market wavered.

Even so, London’s appeal remains intact. As travel has resumed and global movement becomes easier once more, we are seeing increased interest from tenants overseas – many of whom continue to be drawn by London’s longstanding combination of opportunity, culture, and community.

For landlords in Harrow and across the wider North London area, this shift may offer new opportunities in the months ahead. As ever, understanding who your property may appeal to – and how best to present it – will be key to securing the right tenant.

If you would like to discuss how the market is evolving or how best to position your rental property, our lettings team in Harrow would be pleased to offer advice and support.