Ever sit at home eating peanut butter directly out of the jar with your finger pondering what type of home you’d want to buy if you had a zillion dollars? Wonder no more!
A new survey that sought to get into the minds of “ultra high net worth individuals” (lovingly referred to as “UHNWIs”) by Wealth-X and Sotheby’s International Realty can answer all of your most probing questions. The study questioned 211,000 fat cats with at least $30 million in net assets. Town and Country reports “shocking” findings:
– If one is good, many are better: Seventy-nine percent of one-percenters own multiple properties.
– The United States is the most popular destination for second home purchases followed by the United Kingdom and Switzerland.
– They like feeling special: UNHWI tend to have non-traditional home preferences such as, environmentally-friendly homes, high-tech homes, serviced apartments or private islands.
– The favorite areas for private island acquisitions are the Caribbean and Mediterranean, but many UHNWIs are cool with slumming it in Southeast Asia, Belize, the U.K. and even Canada.
– They are fine with going off the beaten path and straying from huge hubs like New York City, London and Hong Kong, with many forging to such “non-mainstream” places as Miami, Geneva, and true renegades, to Long Island!
The study points out that the average UHNW multi-homer is 63 years old, has a net worth of $165 million and is married.
The entire survey is available here.