Wealthy Hold Riches In Property


    Globally, almost 200,000 ultra high net worth (UHNW) individuals hold a fifth of their wealth in property, estimated at $5,328 billion, says a report by Savills, an international real estate advisor, in association with Wealth-X. Europe’s super rich hold the biggest share of all privately owned real estate assets, followed by Asians. Rich people in Europe hold 31 per cent of their wealth in real estate assets worth $2,391 billion, followed by Asia (27 per cent at $1,800 billion) and the Middle East (26 per cent at $880 billion). “Global real estate is mostly residential and held by occupiers, but private owners are becoming more important in the world of traded investable property,” says Yolande Barnes, head of Savills world research.