Insurer AIG recently released the data from a study down by their AIG Private Client Group division. The study showed that ultra high net worth (UHNW) clients in the U.S. who pay $250,000 in annual personal insurance premiums tend to own multiple houses overseas, and invest in other passion investments such as art and jewelry. The […]The post Passion Investing: Ultra High Net Worth Individuals Tend To Own Multiple Properties, Fine Art appeared first on Pursuitist.

Insurer AIG recently released the data from a study down by their AIG Private Client Group division. The study showed that ultra high net worth (UHNW) clients in the U.S. who pay $250,000 in annual personal insurance premiums tend to own multiple houses overseas, and invest in other passion investments such as art and jewelry.The study showed that North and South America are the most popular locations for their foreign properties. This population owns nine homes overseas, on average. Mexico (14%), the Bahamas (13%), and the Caribbean (9%) are three of the top 5 locations for these properties, accounting for 36% of the overseas home count. France  (9%) and England (12%)  also figure prominently for European real estate investment. Overall, more than 50% of the homes owned by this group are in the Americas. Mexico has seen large growth in the second home market through the development of resort areas such the Los Cabos area of the Baja Peninsula. While once, Cabo San Lucas was the sole point of action, now ...