12-07-2019, por Sean Hyett
Global billionaires: a world city love affair
Billionaires play an active role in global property markets, either through investments or the search for their own private, ultra-prime residences.
But who are these wealthiest of buyers? Where do they come from, what are they looking for and where do they most want to live?Using data from Forbes, we take a look at the average profile of a global billionaire in order to better understand their property needs.
(..) As the predominant financial and business hub in the US, it is unsurprising that New York is the city home to the most billionaires globally, with 85 in total. This is followed by Hong Kong (79), Moscow (71), Beijing (61) and London (55).
(..) According to Forbes, this year the combined worth of billionaires was US$8.7 trillion, down from $9.1 trillion in 2018. Over half (52 per cent) who made the list last year saw their individual wealth decline, compared with 34 per cent who saw an increase and 14 per cent whose wealth did not change.
The fall reflects the current economic uncertainty and volatile financial markets around the world which have also slowed ultra-prime residential price growth.
In the year to December 2018, the 17 cities in Savills World Cities Prime Residential Index saw combined growth of just 2.5 per cent for ultra-prime property, the lowest since the global financial crisis.2019-07-16