ULTRA HIGH NET WORTH INDIVIDUALS LOOK FOR ULTRA LUXURY REAL ESTATE.
What is the UHNW buyer looking for in luxury real estate?
Recent fluctuations in emerging market nations have spurred on UHNW investors to consider purchasing luxury real estate in Western countries. Politically or economically stable locations represent a contrast to uncertainty at home.
The foreign purchaser tends to buy from key real estate markets in different countries including the U.S., Canada, Australia and the Mediterranean. Such locations hold a tremendous appeal for UHNW individuals who see these markets as being full of opportunity.
The most popular destinations offer programs through which people can achieve residency or citizenship by investing in local business. Attractive tax regimes are another draw for foreign investors who are interested in buying high-end real estate.
FOREIGN REAL ESTATE INVESTORS MAKE A DRAMATIC IMPACT ON LOCAL MARKETS.
Where do UHNW buyers look for luxury property?
Of course, UHNW buyers check out luxury residential property in famous markets such as London and New York. International investors keep home prices climbing in these regions. The cost of luxury real estate in London’s central neighborhoods has increased 42 percent between June 2010 and June 2015.
Investors who buy outside their domestic market do not, however, always choose to purchase real estate in major hubs. Often they pursue property in other targeted — but less expensive — Western markets such as Sydney, Australia, or Vancouver, Canada.