Thursday, October 10, 2013

Because business is being done outside of the US


New money pours into the old playgrounds for super rich

Vast wealth being made in emerging markets is flowing into traditional destinations to snap up luxury properties, according to a leading British developer.


The second bi-annual Candy GPS Report, produced by Candy & Candy, Savills World Research and Deutsche Asset & Wealth Management, revealed that there was a 34pc jump in individuals worth more than $30m (£18.7m) between 2009 and 2012.
That rise was mainly driven by new money from the Bric countries of Brazil, Russia, India and China, where there is “huge wealth”, property developer Nick Candy told The Daily Telegraph.
And it is still the “traditional” residential destinations, such as the south of France, Italy and the Caribbean that take the top spots of the most desirable places for the wealthy to buy a second home.

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