Below are other key findings from the report:
- The EMEA region offers purchasing and investment opportunities, particularly in Madrid, Dubai and Cape Town (three EMEA cities featured in the report), where luxury properties and strong lifestyle considerations may appeal to UHNW buyers.
- London remains the top real estate hub for the EMEA region. The city’s price per square foot (US$3,103) is nearly four times that of Dubai, six and nine times more than Madrid and Cape Town respectively.
- One-third of all premium London properties for sale (homes valued above US$1 million) are worth more than US$10 million. By comparison, Dubai has only 8 percent of its luxury properties listed in the super prime range above US$10 million.
- The less expensive price per square foot for premium real estate in Cape Town generally leads to larger houses. A luxury property in the South African city has six bedrooms on average – higher than Madrid and Dubai, the two other cities profiled in the report.
The luxury real estate report for 2015 touches upon several key elements in an ultra affluent individual’s life, including lifestyle, investments and family, luxury residential real estate encapsulates a core part of their identity. As their wealth continues to grow, so will their investment fueled by flight to safety from less geopolitically stable geographies.
Trends and economic climate in some EMEA countries are stimulating alternative investments such as real estate in these local markets. Plenty of opportunities are exciting and now is a good time to capitalize on them.
