It’s cheaper to rent in central London

The best way to enjoy London for some serious sales bargain hunting is to find yourself a lovely flat to rent short term, and settle in to being a Londoner for a few days of freedom at a great price.

Renting is so much cheaper than staying in hotels in central London and allows you to be your own person - cook and entertain friends at half the price of having to feed them in hotel restaurants.

Renters have never had so much choice. Thousands of flats are available through specialist property companies offering flexible flats with all the benefits of being in a hotel - with a well informed, uniformed concierge ready to take your bags or hail you a cab without the high cost.

The supply of properties is being boosted by cash strapped private landlords, who are moving out and renting their homes to generate income.

"At this time of year there is always demand from overseas visitors but another group of people who want homes are those who have sold their houses and need to rent while they look for another one" says Lucy Morton of estate agent WA Ellis.

‘It is now possible to move in for a night, a week or a month’

Traditionally a typical short term let was for three months but it is now possible to move in for a night, a week or a month. "The downside of short term lets is the shorter the tenancy, the more expensive it will be, and they might have to accept the fact that the landlord will want to show potential new clients around the property."

Residential Land has a portfolio of 1,500 furnished apartments in new-build developments and mansion blocks across 25 central London postcodes. The company manages the buildings itself, meaning tenants do not have to deal with estate agents. Rents start at £250 a week.

At Grand Plaza, a scheme of 205 apartments in Bayswater, studios cost from £99 per night, much cheaper than an equivalent standard hotel room. Apartments have open-plan kitchens, television, telephone and broadband plus cleaning and laundry services.

Frasers offers fully-serviced apartments at seven prestige "residences" in Kensington and Chelsea, most with no "minimum-stay" restrictions. The company’s motto is "creature comforts and a budget-friendly price tag". It also provides a full hospitality service - in-room dining, theatre tickets, restaurant reservations and so on. Family apartments are available, and some residences have a gym, swimming pool and children’s play area.