investing

Ultra-wealthy still interested in buying real estate despite slowdown, uncertainty

Despite the chill winds of a softening luxury real estate market and political uncertainty across the globe, it’s still a buyer’s market for the ultra-wealthy, a recent survey suggests.

In partnership with the YouGov Affluent Perspective, Luxury Portfolio International surveyed the top echelon of consumers across 12 countries, finding that the majority of those consumers were “cautious but optimistic” in the face of an uncertain and often turbulent world economy.

To be sure, the ranks of the ultra-wealthy, those with more than $50 million or more in net worth, have swelled. Research from Credit Suisse showed that there are more than 123,000 individuals in this category, a whopping 53 percent jump in just five years. Most of them reside in North America, where the rate of growth among the super-rich is double that of Asia and significantly faster than Europe’s.

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