Do you really want these kids as clients?

by Caroline Dann13 Jul 2012

Spare a thought for your broker cousins in the UK.

According to The Sydney Morning Herald, the rise of super-rich students – bankrolled by mum and dad, of course – is seeing increased demand for state-of-the-art, designer-friendly palatial London pads.
It’s a tough feat to find them, and an even tougher slog once you do. These students demand no less than perfection in their properties.
"We didn't want a typical British student pad, we wanted something quite big, quite decent, so that there would be space for our parents and friends when they visited," said one student.
London Central Portfolio’s residential fund manager Naomi Heaton told the SMH these students were just too accustomed to the good life to compromise.
"They're looking for a hotel room. Many of them would have experienced a fairly sophisticated lifestyle, travelling around the world business class,” she said.
It’s in stark contrast to the UK’s overall touch-and-go property market. Most of these foreign students are the products of Asia’s new wealthy elite.
London property is seen as a wise investment for mum and dad, who make regular business trips to Europe.
A far cry from a wonky fold-out bed in the lounge, then.