CovetED’s Selection of the Best Interior Designers in Los Angeles ⇒ Los Angeles is not only regarded as the “City of Angels”...
Barnes International Launches Its 2nd Annual Global Property HandbookSaturday 10 March 2018
Barnes International Launches Its 2nd Annual Global Property Handbook ⇒ In a review of the Luxury Housing Market, Barnes International has just launched its second annual Global Property Handbook (BGPH). The prestigious handbook is aimed at the world’s Ultra High Net Worth Individuals (UHNWI) and market influencers, offering them an in-depth insight into the luxury property market for 2018. Analysing the current geopolitical climate, predictions for major economic events, the buying trends of both the established and emerging wealthy elite and the top investment opportunities globally, BARNES provide a detailed report for those looking to grow their property portfolio.
Year on year the number of UHNWI has continued to increase and in 2017 the global population of UHNWIs grew by 3.5%, reaching a record-breaking 226,450. In their report, BARNES predict the number of UHNWIs will only continue to increase, with the number of global ultra-wealthy expected to rise to 299,000 members by 2021. With a projected combined wealth of 35,700 billion dollars within four years, this emerging elite is not only looking for lifestyle and environment choices but are increasingly viewing property as a desirable and low-risk investment.
The report also notes a number of profound transformations in the UHNWI sector, those of a growing tendency to work remotely, a shift to lifestyle and experience-driven motivations over traditional considerations such as wealth preservation and generation, emotionally driven choices joining the safe house of property as an investment.
⇒ Related Article: MIAMI DESIGN DISTRICT GETS A NEW HIGH-END STORE BY STUDIO SYBARITE ⇐
The luxury property is a sector in a league of its own, and has gradually adopted the codes of the luxury world, which are generally founded on the following basis: superior quality, “God is in the details”, recognizable and reassuring, exclusive membership, loyalty to clients and long-term trust.
“UHNWIs are in consistent growth and the luxury property market internationally reflects this. Navigating this sector with its opportunities and challenges requires expertise and the BARNES Global Property Handbook offers vital data and guidance for this elite market. The shifts in top tier cities makes for interesting reading, but what remains key in this marketplace is the increased demand for global residential portfolios amongst our private clients. Property remains a low-risk investment our clients, as it does for most, but the shift in trend in motivations, to increasingly seek the unique, is also guiding investment decisions. Factors such as technological advances enabling global communication and productivity from anywhere, and extraordinary locations, whether urban central or remote, are all coming into play.” – Alex Newall, Managing Director of Barnes Private Office in London
Newall adds, “As London loses its crown as the top global destination to invest, the city and surrounding areas are throwing up investment opportunities. The BGPH details Runnymede in Surrey as growing by as much as 14% last year for properties over £2m and in PCL discounted properties offer up huge potential for growth as the market volumes start to increase once again. With increasing market volumes, prices will stiffen and we should see growth in the medium term.”
The BARNES global growth forecast shows Brazil, India and France are on the rise in 2018, and the report indicates changes in the Top 50 most desirable cities to purchase a luxury property. London loses its number one position, being replaced by New York, Paris comes second and London is now third, followed byLos Angeles and Hong Kong.
♦♦ Feel free to share your thoughts in this article and come celebrate design with us! For more trends and information follow and subscribe to CovetED Magazine! Follow us on our social networks: Facebook | Twitter | Instagram | Pinterest | Google plus | Linked In ♦♦
Source: Barnes International