There is a separate category of real estate buyers — UHNWI, or persons with super-large net worth at their disposal. We are talking about people who have impressive fortunes of $30 million or more. According to the report «The Wealth Report» from Knight Frank, in the last few years they have paid special attention to Spain, which allowed the country to enter the top three in popularity among super-rich buyers, joining such giants as the United States and Great Britain.
As part of its research, Knight Frank interviewed more than 500 people, including bankers, consultants and wealth managers, office directors and many others. According to the results of the survey, the company's experts concluded that up to 70% of respondents are convinced that their wealthy clients will increase their fortunes in 2023 and Spain will become one of the main directions for their purchases and investments in real estate. In addition, high-tech and capital markets will be popular.
The figures above turn out to be much more than was recorded in a similar survey in 2022. Then only 4 out of 10 respondents indicated real estate as an asset of interest to them. However, the volume of those who have already planned real estate purchases in the coming year has decreased. In 2023, only 15% of respondents indicated that they definitely intend to purchase residential real estate. A year earlier, 21% of respondents expressed such confidence.
At the same time, it is worth noting the national discrepancy among such buyers. Wealthy people from Eastern countries, the Middle East and Asia are more interested in buying a second home, their Western colleagues are more likely to think about the investment value of the asset. In general, real estate is considered one of the best opportunities for investors, especially in the realities of an unstable economic situation. Every fifth of Knight Frank respondents plan to invest in residential real estate at their own expense. They are interested in healthcare, logistics, industrial and office sectors, as well as residential real estate.
The company's research also notes that those individuals whose wealth exceeds $30 million already have, on average, 4.2 houses at their disposal. It is quite obvious that such buyers can look for real estate for their own use, but it is more interesting that they consider as important factors what kind of energy source the building is powered by (57% of respondents pay attention to this), how large-scale reconstruction is possible (30%), what materials are used in construction and what carbon footprint they leave (30%).
Apart from real estate and other sectors of the economy, it is worth pointing out that wealthy buyers from the UHNWI category have a great love for buying and investing in art objects, expensive cars, watches and wines.