The world’s ultra wealthy are investing in Real Estate abroad.
Foreign countries have started Real Estate programs to attract Ultra-High Net-Worth Individuals (UHNWI) to buy properties in their countries. UHNWI (those with a least US$30 million in assets) are seeking to buy second and vacation homes abroad. Therefore Luxury Real Estate buyers are purchasing homes with more than just their location in mind. UHNWI from emerging nations, like China and Brazil, buy property abroad to ensure long-term economic stability and safety for their assets. As a result Chinese UHNWI now make up the third largest share of foreign UHNW homeowners in the United States. In the most recent UHNW Luxury Real Estate Report from Sotheby’s International Realty and Wealth-X, these homes can be described as opportunity gateways. Buyers are looking past the idea of just owning a vacation home.
What Opportunities Will These Real Estate Properties Bring to the New Owner?
- Citizenship compensation of purchasing properties
- The short-term/long-term potential of an increasing asset
- Greater stability and security
- Options for children’s education
- Investment opportunities (that may not otherwise be available in their native land)
Over twenty nations offer programs for individuals who invest in their economy. These nations are mostly in Europe or the Caribbean. In addition, some countries in South America have begun the same type of program. The local government in return offers UHNW individuals citizenship or residency status. For example the Bahamas is a trendy destination for UHNWI to purchase luxury homes and gain residency, where there is also no inheritance tax, capital gains tax, and income tax.
Real Estate purchases ranging from US$200,000 to over US$1million are the ideal requirements. The United States offers similar programs for those who invest at least US$1 million in businesses within the U.S..
So whether you are an international buyer or a real estate seller in a country seeking international buyers, look into elements other than location when considering where to buy or sell property.
Contact Sky Advertising for all your Real Estate Marking/Advertising needs. We are the world’s leading specialists in advertising in prestigious media that reach the UHNWI.