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Global ultra wealthy population holds nearly USD3trn in owner-occupied residential real estate assets

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Nearly USD3 trillion of the world's private wealth is held in owner-occupied residential properties, a value greater than the GDP of India, according to a new report by Wealth-X and the Sotheby’s.

There are 211,275 ultra high net worth (UHNW) individuals – defined as those with US$30 million and above in net assets – in the world and 79% of them own two or more residences.

Some of the main hubs for luxury residential real estate are New York City, London and Hong Kong, but niche locations – such as Lugano, the Hamptons outside New York City, and rural areas around the world – are gaining in popularity.

The Wealth-X and Sotheby's International Realty Global Luxury Residential Real Estate Report forecasts that the ongoing shift in the wealth creation cycle from the West to the East, and the growing significance of intergenerational wealth transfers will have significant consequences on the luxury residential real estate market – with a noted emphasis on new developments and a change in investment grade cities.

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