London will need to build some 50 000 additional residential units to meet ever-rising demand. The number of accommodations necessary for the next 5 years will be equal to 18 new Olympic villages, out of which half dedicated to the lower-class market segment according to a report published by Savills.
According to Director of residential research at Savills, it was way back in 1930 that London’s population reached 8,9 million where some 60 000 residential units were constructed each year. At present, demand for accommodation is fueled by the overall growth noted in London’s population.
