The rise in rich student

High room windows, the Philippe Starck chairs, canopy beds and a short walk from the Louis Vuitton boutique on Bond Street in London, these are not ordinary students of the excavations. Apartments for rent in the exclusive areas of London have traditionally been the domain of the bankers. Since the performance of the financial sector falls, they will increasingly be left to the children of the international super-rich to study at universities in the city. "I chose the place and then asked my parents if she was okay," said Sumiro, a student of 21 years in Indonesia, which will pay more than $ 1300 in a week to live alone in an apartment with two bedrooms in sleeping with the President of Philippe Starck, when he starts college in September. Another attraction was his many friends living nearby, he said. Unlike the stereotypical British students living in cramped apartments crowded and a shop in the stores budget, the descendants of the exhibition super-rich a taste for luxury furniture, in-house gyms and cleaning staff to attend twice a week. "Looking for a hotel room," said Central London Residential Portfolio Funds Chief Executive Director Naomi Heaton, which serves children from Russia, China and Saudi Arabia holidays at home in a portfolio of global property over $ 700 million. "Many of them had a pretty demanding lifestyle, travel World Business Class. Your requirements are similar to those tenants of the company." Nadine, the daughter of a Lebanese businessman who needs their space. "We did not want a buffer typically British student, we wanted something big enough, quite decent, so there will be room for our parents and friends when they visited," said Nadine, who lived in a $ 3.600 per month flat in London During his studies in the last year. The increase of foreign students is full of companies cutting jobs and financial sector budgets under pressure from shareholders and politicians. At the same time, strong economic growth in China and other parts of Asia, has created immense wealth, driven mainly by manufacturing, construction and raw materials. The number of dollar millionaires in the United States in Asia were more common than in North America for the first time in 2011. It has done seen a strong demand from foreign buyers of the best houses in London, regarded by many as a good investment. The prices for the most coveted items of central London by about 44 percent in the last three years have increased more than twice the increase in the capital as a whole, data show Knight Frank. "The wealth is, the students supported more strongly than the market prosperity within the corporate tenant market," said Heaton. Paris and New York are also popular destinations for students. In February, Russian oligarch Dmitry fertilizer Rybolovlev paid $ 86 million for the most expensive apartment in New York, an apartment the size of two tennis courts and a half, with views of Central Park, for his daughter Ekaterina Rybolovleva students. The previous owner was a banker - the former CEO of Citigroup, Sandy Weill. The parents want the best homes for their children, are often willing to outbid the bankers, said Heaton. You can also rent prepaid a year that their children do not have a credit history of the United Kingdom. LCP's research showed that the proportion of housing in urban neighborhoods and the first Mayfair and Knightsbridge has rented by international students increased by 23 percent within six years to June 2012 more than doubled, still the second largest group behind the financial sector 45 percent. "With the current growth rates, international students represent 50 percent by the year 2020," Chief Doctor Best LCP Investment Management, told Reuters, said expansion in the financial sector was likely to plateau. The job losses among bankers caused rents to fall by Premier London for the first time in two years, real estate consultant Savills said on 22 June Foreign students in the City of Westminster District, which includes some of the most expensive streets in the city pay an average annual rent of $ 43 970, said LCP. However, accordin accommodation on site for UK students paid, the average student $ 5,314 in British pounds in 2011. Are more than 26 percent of students in London abroad, with China, India and Nigeria, the most students in Britain 2009-2011, data from the British Council to send for Student Affairs International showed. Rents often paves the way for the purchase, said Heaton, the students will be to convince their parents from buying property in London as soon as they are familiar with the city, another factor that super-charge on the market are the central authority for commercial in London. "This is a feature of globalization," she said. "One generation makes money and the next generation will be sent to the university."