Over 80% of Londoners living in apartments do so because it suits their current lifestyle, according to a new report.
Those questioned in the report by property management company FirstPort said that their contentment in apartment living comes from close proximity to work and access to social amenities. Other notable advantages were fewer worries about having to deal with the maintenance of the property.
Those currently renting also revealed that they were happy with their current situation, with 36% not looking to buy at the moment.
The age demographic who felt most comfortable renting as opposed to buying were the over 55’s with 54%, and those who had been living in rented accommodation for more than three years with 25%. Those who were single and those with access to a multitude of facilities such as a gym or concierge service were also happier to rent.
Commenting on the findings, Nigel Howell, Chief Executive of FirstPort, said: “The research finds overwhelmingly that there are growing numbers of people who find apartment living suits their lifestyle. Having an apartment where property managers look after the day-to-day issues of maintaining a building is a valuable benefit to those who want to make more of their leisure time and enjoy greater flexibility and freedom.”