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Central London letting agents chart the rise of the super renter

You'd be forgiven if you thought the average London renter was someone struggling to buy a property of their own, say central London letting agents. In fact, there is an emerging group of 'super renters' looking for properties to rent in central London at the very top end of the market. These tenants have big budgets and even bigger aspirations to live in London's most lavish properties. Their crusade to secure premium properties to rent in central London has been propelled into the news by two recent developments within the industry. Firstly, the new stamp duty reform, which came into effect in December 2014, means properties for sale worth £950,000 or more carry a heftier stamp duty bill. Although the tax hike isn't enough to put off every high-end buyer, the new rates will deter some purchasers, converting them into tenants in the process. For instance, buyers of properties worth £2 million, £3 million, £4 million and £5 million will pay £53,750, £63,750, £113,750 and £163,750 more in tax, respectively. The other factor that's swaying big-spending buyers towards renting in the proposed mansion tax, which would affect many properties for sale in central London, should it come into force. The mansion tax is a new levy set to be introduced should Labour win power in the May General Election. There would be an annual charge on homes worth more than £2 million - which would be applied in a progressive way under Labour rule. There's also a similar policy in the Liberal Democrats' manifesto, stating that owners of properties worth over £2 million will pay 1% of the property's value on an annual basis. Although the election result is undecided, the mere thought of the tax is putting off some purchasers, comment central London estate agents. Figures suggest 80% of homes subject to the proposed mansion tax would be in London and there could be higher rates applied to overseas owners of properties, especially those who possess more than one dwelling and who do not live in their London residence on a full time basis. For those who are looking at premium properties to rent in central London, the choice is amazing. Central London letting agents are handling the let of properties in areas such as Mayfair, Marylebone, Notting Hill, Soho, Covent Garden, Kensington, Westminster and Fitzrovia, where top-end rents can range between £7,500 to over £21,000 per month. The choice includes penthouse apartments, large period townhouses and sprawling family properties.

You'd be forgiven if you thought the average London renter was someone struggling to buy a property of their own, say central London letting agents. In fact, there is an emerging group of 'super renters' looking for properties to rent in central London at the very top end of the market. These tenants have big budgets and even bigger aspirations to live in London's most lavish properties.

Their crusade to secure premium properties to rent in central London has been propelled into the news by two recent developments within the industry. Firstly, the new stamp duty reform, which came into effect in December 2014, means properties for sale worth £950,000 or more carry a heftier stamp duty bill.

Although the tax hike isn't enough to put off every high-end buyer, the new rates will deter some purchasers, converting them into tenants in the process. For instance, buyers of properties worth £2 million, £3 million, £4 million and £5 million will pay £53,750, £63,750, £113,750 and £163,750 more in tax, respectively.

The other factor that's swaying big-spending buyers towards renting in the proposed mansion tax, which would affect many properties for sale in central London, should it come into force. The mansion tax is a new levy set to be introduced should Labour win power in the May General Election. There would be an annual charge on homes worth more than £2 million - which would be applied in a progressive way under Labour rule. There's also a similar policy in the Liberal Democrats' manifesto, stating that owners of properties worth over £2 million will pay 1% of the property's value on an annual basis. Although the election result is undecided, the mere thought of the tax is putting off some purchasers, comment central London estate agents.

Figures suggest 80% of homes subject to the proposed mansion tax would be in London and there could be higher rates applied to overseas owners of properties, especially those who possess more than one dwelling and who do not live in their London residence on a full time basis.

For those who are looking at premium properties to rent in central London, the choice is amazing. Central London letting agents are handling the let of properties in areas such as Mayfair, Marylebone, Notting Hill, Soho, Covent Garden, Kensington, Westminster and Fitzrovia, where top-end rents can range between £7,500 to over £21,000 per month. The choice includes penthouse apartments, large period townhouses and sprawling family properties.

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