A NEW property wealth report has been released and interesting stats reveal that the super wealthy, people with more €27.6 million, will increase their property buying habits in the next 10 years with Spain seeing growth.
The report shows that although the portfolios of these ultra-high net worth individuals are usually very diverse, real estate is their preference, with approximately 35 per cent of their fortunes invested.
Within the commercial sector, offices, hotels and shopping malls are firm favourites for investment however residential investment is the first choice of these investors and will continue to soar over the next 10 years.
The predictions are for a 41 per cent growth at a global level with Spain seeing 14 per cent growth, which although is positive, the rate of the increase will be considerably lower than previously. Ultra-rich investment has decreased by 3 per cent globally, while in Spain it´s a fall of 14 per cent. The fall has been affected by global economic uncertainty and falls in oil prices.
Again London takes the lead as the preferred city for the ultra-rich, followed by New York and Paris. The number of these ultra-rich residing in Madrid id 467 whist Barcelona has 227.
The latest Prime International Residential Index was also published which analyses the performance from the top 100 luxury second homes around the world.
This year it includes five Spanish destinations – Madrid, Barcelona, Ibiza, Marbella and Mallorca.
Madrid and Ibiza jointly occupy 20th position on the index, climbing from 32nd and 35th positions, respectively. Barcelona, Marbella and Mallorca also improved in the rankings over last year, now occupying 29th, 35th and 47th positions, respectively.
The most expensive city in the world is Monaco, according to the statistics, Vietnam is the most attractive, Meribel is the preferred winter spot for the ultra-rich and the Gold Coast in Australia is the best location for a second home.