Quite a lot of people wonder whether it is worth short letting their property or just go with a traditional long-let. Others are not sure whether Greenwich is a great location for doing AirBnb or other types of short / medium term letting.
In this post we will discuss the attractiveness and suitability of Greenwich Borough for short letting.
If you would like to read a post about short letting comparison to long letting, you can read a previous post here.
So, what is special about Greenwich?
The Royal Borough of Greenwich is one of the most stunning boroughs of London. It attracts around 19 million visitors a year and is home to several outstanding visitor attractions and sites.
The borough is home to Maritime Greenwich, which is a UNESCO World Heritage Site. Maritime Greenwich is a collection of buildings from the 17th and 18th centuries, which symbolise the English architectural and scientific grandeur of that era.
At the heart of the site is the famous Greenwich Park, with its beautiful landscape, stunning gardens and green fields. Outside the Royal Observatory there are amazing views of Canary Wharf, River Thames and the City of London.
The Royal Observatory Greenwich is a very popular destination for local visitors and international tourists. It is home to the Greenwich Mean Time (GMT), the Global Prime Meridian and the Planetarium. There are a lot of things one can do and explore, ranging from taking great photos with one foot in the West and the other in the East, and viewing the Great Equatorial Telescope.
Visitors to the borough can also visit the National Maritime Museum, walk around the Greenwich Market, go onboard the Cutty Sark (a historic sailing ship) in the heart of Greenwich. A bit further out, is the nearly 850-year-old Lesnes Abbey in Abbey Wood, with its ancient history and the woods adjacent to the ruins of the abbey.
Greenwich is a truly multi-cultural and vibrant place with over 90 languages spoken by the borough residents and a population of over 290,000 people.
It has over 11,000 businesses and a quite high employment rate of 90%. This makes Greenwich a very attractive place for business visitors. There is also the Design District in Greenwich Peninsula, which is a permanent home for creative and design industries, with its 16 unique buildings designed by renowned architects.
What makes Greenwich even more appealing for Airbnb guests, apart from its own attractions, is its proximity to Central London. Whichever part of the borough you’re in, you’re only a stone’s throw away from London’s tourist destinations, the City of London and Canary Wharf. At the same time, as it’s outside Central London, the borough is quite affordable for visitors looking for good value accommodation on platforms like Airbnb.
Travelling to Central London is made easy by the excellent travel options, ranging from the London Underground (the Tube), South Eastern trains and the new Elizabeth Line, with Woolwich and Abbey Wood stations. There is also a great choice of bus routes covering every corner of the borough and connecting it with the rest of London.
There is a large student population as well, studying at universities like the Greenwich University, Ravensbourne University, Goldsmiths and others.
There are many more attractions in the Royal Borough of Greenwich that one short blog post would not be enough to cover. But what is certain is that the borough is very popular with visitors and guests, so providing short-let or medium-let accommodation on platforms like Airbnb, Booking.com and others is a very attractive proposition.
In the next blog post we will do a short-let market analysis of the SE10 postcode in Greenwich.
All the best, Shahzoda.