London
CNN Business
—
For Rebeca Blázquez, the past few weeks have been a “nightmare.”
Based in Madrid but hoping to find work in London before starting her master’s degree, the 22-year-old university graduate spent a month searching online for a room to rent in London on a £900 budget ($1,070). She sent dozens of messages to landlords and vacating tenants, and logged in for virtual viewings only to find that the room had already been taken.
“I think that I sent over 100 messages to different ads, and I only had [a] reply to 30 messages,” she told CNN Business.
Renters, real estate agents and property search specialists described to CNN Business a frenzied scramble for rental units since the spring as students and workers flocked back to the city after the pandemic.
That surge in demand collided with a steep drop in supply. Data from Rightmove, an…
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