Beyond a project of life, luxury real estate allows entrepreneurs to live their passions
It is a constant on every continent, the wealthy, HNWI and UHNWI, are mostly entrepreneurs.
As part of the management of their assets, they give each year an increasingly important place to luxury real estate. In this way, they will establish their main residence in one of the best-rated cities on the international scene, which will allow them, in addition to an added value over time, to stay in touch with other entrepreneurs working in the same sector on a daily basis.
Beyond their primary residence, these buyers will again act as entrepreneurs when selecting their second homes. They transform as much as possible these goods into sources of income, via their rental for residential properties and via their exploitation for more entrepreneurial projects (vineyards, hotels, hunts, stud farms, etc.)
For these entrepreneurs, especially the younger ones, real estate is not static. Their investments are part of a global entrepreneurial project, one that has allowed them to make a fortune.
Acquire a prestige property as you acquire a business
For wealthy people, investing in luxury real estate should no longer be experienced as synonymous with a financial burden. In an ever more digital world, arbitrations must be quick, even to shake the established order.
According to the site entrepreneur.com, just over 10% of American billionaires have pulled their income from real estate, some arguing that this is the best way to create real wealth while maintaining some financial independence. And even if real estate is primarily based on stone, new technologies have changed the rules of the game by accelerating and facilitating access to investment, especially abroad.
The need for global support
The art of living is a myriad of elements constituting a material heritage and especially intangible obvious and yet elusive. For HNWI and UHNWI, luxury real estate is only one aspect of this lifestyle that includes many others to allow them to live a unique experience in everyday life.
Beyond luxury real estate, wealthy families have a vision overall about the organization of their daily lives. After having acquired their main residence in an international city of reference, they will build a portfolio of second homes fulfilling practical, emotional and financial aspects. Most entrepreneurs will then combine passion and entrepreneurship by investing in "passionate properties" such as hotels, stud farms, golf courses or vineyards. Investments in many other areas of passion such as theart, the yachtingsailing and collector cars will enable them to combine the art of living and entrepreneurship.
View our report 2019 BARNES GLOBAL PROPERTY HANDBOOK
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