The Rise of the Young and Wealthy in Luxury Property Markets
As surmised by La Costa Properties Monaco, a 2015 study into young investors in luxury real estate markets, which was published by Coldwell Banker Previews and Ipsos MediaCT, has revealed some important data that shines an interesting light on the financial habits of wealthy Millennials. A survey was conducted and data was collected from 500 High Net Worth Individuals (HNWIs), each of which has a minimum capital of $5 million. It is a useful tool for predicting the trends that may dictate future real estate markets and the investment tendencies of high net worth individuals over the age of 21.
The study is named Wealth, Real Estate And The High Net Worth Investor and it encompasses the real estate preferences of the richest 1.5% of the population, or 1.8 million households. The survey was broad in scope, giving an insightful overview of the opinions and habits of a broad range of participants, from Boomers (50 and older) to Millennials (21-35). The study uncovered some differences between the generations and clarified how these differences affect the traditional real estate market.
Overall the participants? outlook on investing in real estate was positive. The findings revealed that 54% of HNWI said they planned to make a real estate investment in 2015-2016, which is up from 48% in 2014. An overwhelming majority (94%) predicted their property would grow around 16% in value over the next five years, although that is not a motivating factor in inve...
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