What type of asset are the ultra-wealthy looking to buy right now? Real estate. A new Savills/Wealth Briefing survey of private bankers and wealth managers found that 91 percent of global high-net-worth investors were looking to increase or maintain their real estate holdings.
The choices of types of real estate are all over the map, so to speak. Seventy-two percent of wealth managers said their clients would buy residential properties over the next five years, 60 percent said they'd buy development land, and 50 percent said they would buy offices. Just 44 percent said they'd get into more retail investments.
North America remains the prime destination for investors, according to 67 percent of wealth management respondents, It's followed by 63 percent looking to the U.K. and 58 percent for both Pacific Asia and the South Asian Subcontinent.