For today’s affluent, the world of luxury real estate is more accessible than ever. Business opportunities, access to superior education, family concerns and citizenship are just some of the factors driving wealthy, global citizens to purchase more real estate at all ends of the Earth, from Mumbai, India to New York, New York.
That’s the premise of a new Unique Homes report, by Camilla McLaughlin, which takes a close look at how globalization is convincing people to buy more homes around the world. Depending on their level of wealth, in fact, the “ultra-high-net individual” owns an average of three to five homes in various countries, writes McLaughlin
Below is a sneak peek of the report, which can be found on page 39 of our November & December issue.
Maybe it all began with the Jetsetters, an urbane group “Vogue” later dubbed “the beautiful people,” who supposedly flitted (by jet) from St. Moritz to the Bahamas to Cannes in pursuit of events and holidays. Today, that jetsetter is likely to be a global citizen, who rather than haunting resorts, is apt to own homes in multiple countries and view international real estate as much as an investment as a lifestyle. And instead of hailing from the U.S. or Europe, they might also be from China, Russia, India, Mexico, South America or Africa. As dissimilar as the group might seem, they are actually more alike than different.