Many interesting trends were unveiled in the recently released Global Luxury Real Estate Report 2015. This informative report, created by Sotheby’s and Wealth-X, utilizes Wealth-X’s proprietary wealth intelligence derived from the company’s 170 global researchers that manually research and curate dossiers on ultra high net worth (UHNW) individuals (defined as those with US$30 million or above in assets).
Here are some key findings from the report
- The value of UHNW-owned residential real estate assets increased by 8% globally in 2014.
- On average, UHNW individuals own 2.7 owner-occupied residences.
- As of 2014, over 7% of the world’s UHNW population made their wealth through real estate, up from 5% in 2013.
- Ultra affluent women value real estate assets more than their male counterparts, holding 16% of the net worth in such assets, on average, compared to less than 10% for men.
- Luxury residential real estate is an asset class typically favored by UHNW individuals with inherited wealth: these individuals hold 17% of their net worth in such assets, compared to just under 9% for self-made UHNW individuals.
- UHNW individuals with net worth between US$30 million and US$50 million typically keep their primary residences for over 15 years and their secondary residences for over 10 years.
- Billionaires change one of their four properties, on average, once every three years.
- Secondary residences are typically 45% more valuable than primary residences; twice the square footage and have 10 acres of land.
- At 83%, Monaco has the highest density of foreign-owned UHNW residences.
- More than 6% of the world’s UHNW population has relocated their primary residence to a different country from which they were born – these individuals often keep a secondary residence in their home countries, and India is the leading country in this respect.
I hope you find the information I gathered from the Global Luxury Residential Real Estate Report 2015 interesting. If you are searching for a private estate, winery or vineyard in Napa Valley or Sonoma please contact me at 707-738-4820 or email [email protected]. As a top producing Realtor® in Napa Valley, I have access to some extraordinary wineries, vineyards, estates and homes in Napa, Yountville, Saint Helena and Calistoga that are not on the open market, as well as a deep knowledge of some exceptional overlooked on-market offerings. The off market inventory is extraordinary right now and each and every property has spectacular views. I look forward to helping you buy or sell your property in this beautiful part of the world.
