Tag Archives: US

What’s important to wealthy real estate buyers

In its annual Luxury Lifestyle Report, Sotheby’s International Realty breaks down what’s important to wealthy real estate buyers.

And where do the 1% around the world want to live? Anywhere close to the water.

Luxury buyers in the U.S., Canada, France, Germany, Italy, Sweden, Switzerland, the U.K., Brazil, Hong Kong, Japan, Thailand, China, Australia, New Zealand, as well as those in Caribbean and Central America all searched predominantly for waterfront properties on sothebysrealty.com.

But high-end buyers from Spain, Venezuela, and Mexico were all more likely to look for mountain mansions. Russia was a major outlier, with its wealthy residents searching for countryside properties 83% of the time.

But location was definitely the top priority for luxury buyers around the world, with 71% of respondents telling Sotheby’s they would pay more for the home’s location over its size, historic significance, or previous (famous) owners.

The survey was sent to Sotheby’s affluent consumers over 25 years old all over the world, from the U.S. to China, between January 28 and February 18, 2014.

When it came to amenities, Sotheby’s brokers said the number of clients who wanted a home with “smart amenities” has increased drastically over the last two years. These include appliances, lighting, entertainment systems, security, and more that can be controlled remotely from anywhere in the world.

China’s wealthy real estate investors also valued space to display their massive art collections, while U.S. buyers were mostly interested in having a multi-car collector’s garage, according to the report.

luxury real estate amentities

http://sirluxuryrealestate.com/category/luxury-real-estate/

Asia’s millionaires will outpace the Americans in number and wealth

In a report by Capgemini Financial Services and RBC Wealth Management, the number of millionaires in Asia is expected to surpass that in North America by this year. By 2015, the wealth that these Asian millionaires hold will also overtake that of their North American counterparts as predicted in the same report.

In terms of investable wealth, Asians hold US$14.2 trillion, and North Americans US$14.9 trillion. Together, they make up just over half of the world’s US$52.6 trillion of HNWI wealth.

But Asia is growing at a faster pace. That is one of the key takeaways from the 2014 World Wealth Report, said Claire Sauvanaud, vice-president and senior account executive for Capgemini Asia Pacific.

The two regions are already about neck and neck in the number of such high net worth individuals (HNWIs): Asia-Pacific has 4.32 million of them and North America 4.33 million. Together, they account for almost two thirds of the 13.7 million HNWIs in the world.

In 2013, the numbers of the world’s wealthy grew the most in the US and Japan. The US remains the country with the most number of HNWIs (4M) in the world, while Japan is second (2.3M). SIngapore’s HNWI population grew 4.5% to reach 105K people.

Wealth is concentrated at the very top. Among the 13.7M HWNIs, a mear 0.9% have $30M or more. This group holds a third of the HNWI wealth. The wealthy seek to make an impact to their societies primarily via health, education and children’s causes.