London, New York Remain Most Preferred Demographic By UHNWIs
London and New York remain as the leading sellers among UHNWIs. Wealth-X and Sothebys International, the leading real estate companies, revealed that 2015 was a huge year for the demographic of ultra-high net worth individuals. The report indicated an investment of around 10% of assets in the real estate across the world, which totaled to almost US$3 trillion.
Home prices in London have risen by 42% because of the growth in demand. New York. However, the areas had seen an increase from 73 to 114 in the amount of $30M+ listings since last year, Massachusetts Real Estate News reported.
The ultra-high net worth individuals' specific demographics remained hidden, but a few numbers poured in that revealed a stunning increase in the upscale market. For the past six successive quarters, the investments in extremely high-end real estate have increased with 8.3% year-over-year growth.
The Luxury Real Estate Report: Homes As Opportunity Gateways report said that a couple of trends are causing the increase in the amount of extremely wealthy people who are purchasing luxury homes. The increase is basically in two trends, which are:
- Home-buying to receive residency or citizenship status in foreign countries.
- International home-buying done by UHNW people whose assets are at least US$30 million from the rising countries that are looking for a better investment diversification.
The report offered a better understanding of a UHNW home real estate options in Vancouver and Sydney for those who are looking for secured investment diversification. Malta, Sao Paulo and the Bahamas, on the other hand, were drawing in extremely wealthy buyers who are searching for residency and citizenship by property investment.
Foreign investors that are from Brazil, China, Russia and India were also investing largely in upscale residential real estate in the Western markets. They look at these properties as a secured place for investment and a chance for a better lifestyle.