Renting versus buying in prime London property market

High stamp duty rates of up to 19% for non-UK residents are prompting wealthy buyers to reconsider renting rather than purchasing in London’s prime property market. The combination of £3.8 million to £5.7 million in tax on properties valued between £20 million and £30 million, plus annual running costs of £500,000 or more, has shifted the financial calculation for international buyers.

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