Sothebys International Realty brand and Wealth-X partnered this year for the Europe, Middle East and Africa Luxury Residential Real Estate Report For 2015. This isthe second of four custom reports planned for 2015. The objective of the joint report is to provide a deeper understanding of the ultra high net worth (UHNW) consumer, specifically in the EMEA region, identifying purchasing and investment opportunities in residential real estate.
Purchasing luxury homes is a way to diversify holdings, and this group has become increasingly interested in real estate investments. Currently there are 211,275 UHNW individuals globally, who collectively own nearly $3 trillion of real estate. The research shows that trends and the economic climate in some EMEA countries are stimulating alternative investments such as real estate in these local markets, said Philip White, president and chief executive officer, Sothebys International Realty Affiliates LLC.
These opportunities are exciting and we are proud to be able to provide an in-depth look at them. The report found the top purchasing and investment cities for UHNW consumers were London, Madrid, Cape Town and Dubai. These cities all have high concentrations of luxury real estate, combined with distinctive lifestyle considerations that appeal to UHNW buyers. London outranks the other cities; the price per square foot ($3,103) is four times that of Dubai, six times more than Madrid and nine times more than Cape Town.
This reflects in their premium properties, nearly one third of which are worth more than $10 million, while eight percent of premium properties in Dubai are worth the same amount. Price per square foot is also often a determinant of size, in Cape Town where the price per square foot is less than in Madrid or Dubai luxury properties have an average of six bedrooms. The strength of the global luxury real estate market is shown in the UHNW Residential Real Estate index, reaching a record high of 112.1 in the first quarter of 2015, a seven percent increase from the first quarter of 2014. Access theEurope, Middle East and Africa Luxury Residential Real Estate Report For 2015here.
Sothebys International Realty brand and Wealth-X partnered this year for the Europe, Middle East and Africa Luxury Residential Real Estate Report For 2015, the second of four custom reports planned for 2015.
The objective of the joint report is to provide a deeper understanding of the ultra high net worth (UHNW) consumer, specifically in the EMEA region, identifying purchasing and investment opportunities in residential real estate. Purchasing luxury homes is a way to diversify holdings, and this group has become increasingly interested in real estate investments. Currently there are 211,275 UHNW individuals globally, who collectively own nearly $3 trillion of real estate.
The research shows that trends and the economic climate in some EMEA countries are stimulating alternative investments such as real estate in these local markets, said Philip White, president and chief executive officer, Sothebys International Realty Affiliates LLC. These opportunities are exciting and we are proud to be able to provide an in-depth look at them.
The report found the top purchasing and investment cities for UHNW consumers were London, Madrid, Cape Town and Dubai. These cities all have high concentrations of luxury real estate, combined with distinctive lifestyle considerations that appeal to UHNW buyers. London outranks the other cities; the price per square foot ($3,103) is four times that of Dubai, six times more than Madrid and nine times more than Cape Town. This reflects in their premium properties, nearly one third of which are worth more than $10 million, while eight percent of premium properties in Dubai are worth the same amount. Price per square foot is also often a determinant of size, in Cape Town where the price per square foot is less than in Madrid or Dubai luxury properties have an average of six bedrooms.
The strength of the global luxury real estate market is shown in the UHNW Residential Real Estate index, reaching a record high of 112.1 in the first quarter of 2015, a seven percent increase from the first quarter of 2014.
Access theEurope, Middle East and Africa Luxury Residential Real Estate Report For 2015here.Sothebys International Realty brand and Wealth-X partnered this year for the Europe, Middle East and Africa Luxury Residential Real Estate Report For 2015, the second of four custom reports planned for 2015.
The objective of the joint report is to provide a deeper understanding of the ultra high net worth (UHNW) consumer, specifically in the EMEA region, identifying purchasing and investment opportunities in residential real estate. Purchasing luxury homes is a way to diversify holdings, and this group has become increasingly interested in real estate investments. Currently there are 211,275 UHNW individuals globally, who collectively own nearly $3 trillion of real estate.
The research shows that trends and the economic climate in some EMEA countries are stimulating alternative investments such as real estate in these local markets, said Philip White, president and chief executive officer, Sothebys International Realty Affiliates LLC. These opportunities are exciting and we are proud to be able to provide an in-depth look at them.
The report found the top purchasing and investment cities for UHNW consumers were London, Madrid, Cape Town and Dubai. These cities all have high concentrations of luxury real estate, combined with distinctive lifestyle considerations that appeal to UHNW buyers. London outranks the other cities; the price per square foot ($3,103) is four times that of Dubai, six times more than Madrid and nine times more than Cape Town. This reflects in their premium properties, nearly one third of which are worth more than $10 million, while eight percent of premium properties in Dubai are worth the same amount. Price per square foot is also often a determinant of size, in Cape Town where the price per square foot is less than in Madrid or Dubai luxury properties have an average of six bedrooms.
The strength of the global luxury real estate market is shown in the UHNW Residential Real Estate index, reaching a record high of 112.1 in the first quarter of 2015, a seven percent increase from the first quarter of 2014.
Access theEurope, Middle East and Africa Luxury Residential Real Estate Report For 015here.Sothebys International Realty brand and Wealth-X partnered this year for the Europe, Middle East and Africa Luxury Residential Real Estate Report For 2015, the second of four custom reports planned for 2015.
The objective of the joint report is to provide a deeper understanding of the ultra high net worth (UHNW) consumer, specifically in the EMEA region, identifying purchasing and investment opportunities in residential real estate. Purchasing luxury homes is a way to diversify holdings, and this group has become increasingly interested in real estate investments. Currently there are 211,275 UHNW individuals globally, who collectively own nearly $3 trillion of real estate.
The research shows that trends and the economic climate in some EMEA countries are stimulating alternative investments such as real estate in these local markets, said Philip White, president and chief executive officer, Sothebys International Realty Affiliates LLC. These opportunities are exciting and we are proud to be able to provide an in-depth look at them.
The report found the top purchasing and investment cities for UHNW consumers were London, Madrid, Cape Town and Dubai. These cities all have high concentrations of luxury real estate, combined with distinctive lifestyle considerations that appeal to UHNW buyers. London outranks the other cities; the price per square foot ($3,103) is four times that of Dubai, six times more than Madrid and nine times more than Cape Town. This reflects in their premium properties, nearly one third of which are worth more than $10 million, while eight percent of premium properties in Dubai are worth the same amount. Price per square foot is also often a determinant of size, in Cape Town where the price per square foot is less than in Madrid or Dubai luxury properties have an average of six bedrooms.
The strength of the global luxury real estate market is shown in the UHNW Residential Real Estate index, reaching a record high of 112.1 in the first quarter of 2015, a seven percent increase from the first quarter of 2014.
Access theEurope, Middle East and Africa Luxury Residential Real Estate Report For 2015here.
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