It has been reported that an increasing number of ultra high net
worth (UHNW) individuals are buying non-traditional homes outside
their domiciles according to a new study by Wealth-X and the
Sothebys International Realty brand, released today.
Wealth-X has identified more than 211,000 ultra high net worth
individuals globally defined as those with US$30 million and above
in net assets and 79% of them own two or more residences.
The
Wealth-X and Sothebys International Realty UHNW Luxury Real Estate:
Multi-Homers Report reveals that these UHNW buyers look
for residences that are environmentally sustainable,
technologically sophisticated, or that fit better with their
personal and family needs.
Below are other key findings from the report:
- The average UHNW Multi-homer is 63 years old, has a net worth
of US$165 million and is married. - The United States is the most popular location for second homes
among the ultra wealthy, followed by the United Kingdom and
Switzerland. - Four types of luxury home types have emerged as favorites among
the global ultra wealthy: Green Homes, Smart Homes, Private
Islands, and Serviced Apartments. These types of
luxury residences serve their needs, aspirations, and lifestyle
considerations. - The Caribbean and the Mediterranean remain favorites among UHNW
buyers for private island homes, but Southeast Asia, Canada, Belize
and the United Kingdom are gaining popularity. - UHNW Multi-home buyers are fueling market growth in regions
beyond global urban hubs such as London, New York City and Hong
Kong. The report profiles Miami, Florida; Geneva, Switzerland; and
Long Island, New York.
Download the full latest report
here.
The Wealth-X and Sotheby’s International Realty reports
look at trends in the UHNW population’s appetite for luxury
residential real estate across the world, identifies specific
attitudes, behaviors and locations that matter to this industry and
this wealth segment.
View previous joint reports below:
Global Luxury Residential Real Estate Report
Europe, Middle East and Africa Luxury Residential Real Estate
Report
UHNW Luxury Real Estate Report: Homes As Opportunity
Gateways
Sothebys International Realty listings are marketed on the
sothebysrealty.com
global website. In addition to the referral opportunities and
widened exposure generated from this source, the networks brokers
and clients benefit from an association with the Sothebys auction
house and worldwide Sothebys International Realty
marketing programs. Each office is independently owned and
operated.
About Wealth-X Wealth-X is the
global authority on wealth intelligence, providing sales,
marketing, strategy and compliance solutions to clients in the
financial services, luxury, not-for-profit and education sectors.
Its award-winning research and thought leadership are regularly
cited by the worlds media such as CNBC, Financial Times, Thomson
Reuters and BBC. Wealth-X has more than 250 staff in 10 locations,
including Singapore, London and New York.
About Sothebys International Realty Affiliates
LLC TheSothebys International Realtynetwork
currently has approximately 17,000 sales associates located in
approximately 800 offices in 61 countries and territories
worldwide.Founded in 1976 to provide independent brokerages with a
powerful marketing and referral program for luxury listings,
theSothebys International Realtynetwork
was designed to connect the finest independent real estate
companies to the most prestigious clientele in the world. Sothebys
International Realty Affiliates LLC is a subsidiary of Realogy
Holdings Corp. (NYSE: RLGY), a global leader in real estate
franchising and provider of real estate brokerage, relocation and
settlement services.