The significance of Homes has been never changed even between the pandemic situation and Political Instability. The Residential Real Estate has been highly focused by the High net worth’s in 2021 as place of work, for family and personal well-being. REALM made a look into the HNW’s Real Estate penetrations other than home and came up with the footprints of HNWs and VHNWs in Real estate other than their primary homes.
“The priorities of HNW and UHNW consumers are inspiring a historic migration of this population and explore an evolution in primary and secondary home markets that represents new core values including health and well-being,” said REALM Founder Julie Faupel. “In 2020 wealthy consumers prioritized peace of mind and safety over formerly prized shared experiences. We are honored to partner with Wealth-X to examine how markets have shifted over the events of the past year.”
The Moot points of the Research made by the REALM is as follows.
New York remains the Primary Focused city of the wealthy in the world followed by the Los Angeles and London in 2nd & 3rd position respectively.
London, Hongkong and Paris marks the top 3 places respectively in the non US Cities list. In the overall list, Hongkong and Paris make 4th and 5th position after London in 3rd.
Western cities are meant to be the second home destinations of the Richest. London has the highest shares of UHNWs secondary residence. But Miami takes the lead in rest of all the Real Estate Markets.
Monaco and Aspen has the high densities of UHNW’s Population. There is 1 UHNW’s mark for every 29 residents and aspen has also the similar density.
Primary UHNW residents and Secondary Property owners in the top residing cities namely New York, London and Hongkong has some noticeable differences like UHNW secondary Home owners are Younger and has Higher Female Representation than the Primary Residents .
In Overall Asia – Pacific Region has the highest number of HNWs with 6.07 million of individuals with $1 million worth of assets excluding the primary Residence.
North America in the second place as home for 5.68 million HNWs and followed by Europe with 4.80 million population of HNW.
As of 2018 Australia has the maximum number of inflow of HNWs with 12,000 per year followed by United states with 10,000 inflows and Canada with 4000 inflows. This Migration made a huge impact in the Real Estate in Asia as the maximum outflows were recorded in Asia. The Top 3 Out flows are from China with 15000 outflows per year followed by Russia with 7000 outflows and India at 3rd Place with 5000 outflows per year.