London’s Mayfair and Kensington buzz, yet many super‑prime owners are absent. After the 2024 non‑dom tax reform shifted to a residence‑based system with a four‑year foreign‑income carve‑out, wealthy residents swapped their primary UK home for properties in Switzerland, Dubai or Italy. The dilemma now is whether to sell, rent or simply pay a manager to look after a seldom‑used palace.

Short‑stay specialist Ivy Lettings reports a 50 % surge in listings since the regime ended in April 2025, half of which belong to emigrant owners. Management fees start at £650 a month for basic inspections and can climb to several thousand for full‑service care of multi‑million‑pound homes. Rental income typically covers upkeep, ranging from £25,000 on modest flats to six‑figure sums for palatial estates.

Agents such as Black Brick and LCP/Private Office see the trend as the fastest‑growing segment of their business, with Black Brick’s management arm expanding 30 % year‑to‑date. While ultra‑wealthy owners of £5 mn‑plus properties balk at tenants for privacy reasons, the scarcity of prime rentals and the new Renters’ Rights Act make short‑lets an attractive, low‑commitment cash‑flow solution for overseas investors seeking yields.