Rents in some of London’s most exclusive neighbourhoods are climbing sharply as wealthy British expatriates flee Dubai and other Gulf states following missile attacks linked to the Middle East conflict. Estate agents report being inundated with urgent requests for high end, fully furnished homes, with some families willing to pay more than £3,000 per week for short term leases in areas such as Kensington, Chelsea, Notting Hill and Holland Park.

Many of those returning had previously moved to Dubai for its low taxes and lifestyle benefits but are now seeking safety and stability. Property experts say London’s reputation as a secure global city becomes especially attractive during periods of geopolitical uncertainty. Most families are seeking six to twelve month rentals while they assess how the situation overseas develops.

The sudden surge in demand risks worsening an existing shortage of luxury rental properties. A new renters reform law due to take effect in May has already encouraged some landlords to sell, limiting supply. While the influx offers a boost to London’s high end property market after recent tax changes drove some wealthy residents away, returning expatriates may face higher tax liabilities and other financial implications as they re establish residency in the United Kingdom.