select
|

What the wealthy know…

 The release of the latest World Wealth Report shows that rich people are very certain that this is a good time to invest in real estate. The report, published every year by consulting firm Capgemini  and private wealth manager Merrill Lynch Wealth Management, tracks the fortunes of the world’s millionaires, and how they make their money. And this year’s edition, notes Berry Everitt, MD of the Chas Everitt International property group, shows that high net worth individuals (HNWIs) are increasing their investment in property.
 
The percentage of their combined global wealth that was invested in real estate rose to 19% last year, which was well off the low of 14% in 2007. “What is more, the report shows that despite the ongoing economic challenges, the total wealth of the world’s millionaires grew by almost 10% in 2010, in contrast to the world’s GDP, which grew by just over 5% (according to the International Monetary Fund), so the HNWIs are obviously doing something right.” Asia is the region with the highest number of millionaires (3,3m of them) according to Capgemini, and HNWIs in the region have been particularly aggressive in the past two years in pursuing returns in real estate, which accounted for 28% of their aggregate portfolio at the end of 2009 and 31% last year.  This fondness for property, says Everitt, is especially evident in China with its fast-rising GDP, and has contributed significantly to a rapid increase in the number of millionaires in the country, whose combined wealth now totals around $10,8 trillion – second only to the $11,8 trillion of HNWIs in North America. “In addition the Hrun Report, which specifically maps the rise of wealth in China, says that the average age of the Chinese millionaires is just 39 – a good 15 years younger than those in Western countries – and that around one-third of them are women.

“This clearly points the way for greater property investment in Africa, which experienced the biggest regional increase (11%) in the number of millionaires last year, and which is expected to double its GDP over the next 10 years.

” ISSUED BY CHAS EVERITT INTERNATIONAL


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
    • 19 Jun 2018
      Douw Steyn, one of the richest men in the country, recently allowed a rare glimpse into his Fourways Palazzo when it was featured on the SABC lifestyle programme Top Billing - and it is beyond your wildest dreams!
    • 18 Jun 2018
      Many home sellers are motivated to appoint estate agents because they know that the agency will carry the costs of advertising and marketing their property.
    • 18 Jun 2018
      When a property is sold when it has a tenant in occupation, the questions often raised are: “What happens to the tenant if the landlord sells the property?”, and what rights the tenant will have with regards to cancelling the lease or enforcing it, says Sunell Afrika, rentals manager for SAProperty.com.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK