Wealth-X & Sotheby's International Realty Release UHNW Luxury Real Estate: Multi-Homers Report

According to a new study released by Wealth-X and the Sotheby’s International Realty® brand, more and more ultra high net worth (UHNW) individuals are buying second homes outside of their domiciles. The report revealed that there are currently more than 211,000 UHNW individuals around the world and that their purchase of international homes has risen.

“Our partnership with Wealth-X has proven to be invaluable as we continue to explore the motivations of the world’s ultra high net worth,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates, LLC. “The research from our latest report uncovers current trends in home purchasing behavior and chief lifestyle considerations, helping us gain insight into investment strategies of the UHNW population.”

As the report reads, “five years ago international homes accounted for 11% of non-primary UHNW residences, whereas they now account for 16%.” Further, “nearly 80% of UHNW individuals own at least 2 homes and over half own at least 3 homes.”

According to the report, “while many of these homes are being purchased in traditional UHNW centers, additional home buying is becoming a truly global enterprise.” The image below spotlights “the top 10 secondary residence countries, outside primary business country”:

Realogics Sotheby’s International Realty (RSIR) has emphasized the importance of Chinese international buyers for the last few years. Among their many initiatives, RSIR most recently announced a partnership with Tiger Oak Publications on an all-Mandarin magazine, “Seattle Luxury Living,” to target affluent Chinese consumers both locally and overseas. In addition, they launched a “Fly and Buy” luxury tourism program and are developing an exclusive We Chat App that will feature the Seattle Luxury Living content as well as other market reports, featured listings and reference resources for Mandarin-speaking homebuyers exploring investment in the Pacific Northwest. Read more about the firm’s initiatives >>

Other key findings from the report:

  • The average UHNW Mult-homer is 63 years old, has a net worth of US$165 million and is married.
  • The United States is the most popular location for second homes among the ultra wealthy, followed by the United Kingdom and Switzerland.
  • Four types of luxury home types have emerged as favorites among the global ultra wealthy: Green Homes, Smart Homes, Private Islands, and Serviced Apartments. These types of luxury residences serve their needs, aspirations, and lifestyle considerations.
  • The Caribbean and the Mediterranean remain favorites among UHNW buyers for private island homes, but Southeast Asia, Canada, Belize and the United Kingdom are gaining popularity.
  • UHNW Multi-home buyers are fueling market growth in regions beyond urban hubs such as London, New York City and Hong Kong. The report profiles Miami, Florida; Geneva, Switzerland; and Long Island, New York.

Read the Full Wealth-X & Sotheby’s International Realty Report >>

Sotheby's International Realty Brand Welcomes Cape Cod Firm

Sotheby’s International Realty Affiliates LLC today yesterday that New Seabury Real Estate on Cape Cod, Massachusetts, is the newest member of its real estate network and will now operate as New Seabury Sotheby’s International Realty.

The firm, which is owned and operated by Christopher Burden Jr. and Amanda Prince, has three offices around the Cape and will service New Seabury, Popponesset and the greater Cape Cod area.  With this addition, the Sotheby’s International Realty brand now has four member companies on Cape Cod including: Atlantic Bay Sotheby’s International Realty, oldCape Sotheby’s International Realty, Sotheby’s International Realty – Falmouth Brokerage and Sotheby’s International Realty – Osterville Brokerage.

“Christopher Burden and his team are seasoned real estate professionals who have extensive market knowledge about the community in which they serve,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “We are proud to welcome New Seabury Sotheby’s International Realty to our network.”

The firm has served the greater Cape Cod area since 1970.  “Affiliating with Sotheby’s International Realtyallows our company to have access to high caliber marketing opportunities and technology, as well as worldwide exposure,” said Burden.  “We are thrilled to be a part of a globally recognized brand.”

The Sotheby’s International Realty network currently has more than 17,000 sales associates located in approximately 800 offices in 61 countries and territories worldwide.  New Seabury Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website.  In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.  Each office is independently owned and operated.

Experi Travel & RSIR Launch Luxury "Fly & Buy" Travel Program for Chinese Homebuyers on the West Coast

Representatives of Experi Travel and Realogics Sotheby’s International Realty announced today that they will be providing luxury, real estate focused, travel programs for Chinese nationals – now the largest and fastest rising overseas consumer group for Washington State tourism. The all-inclusive trips are designed to showcase the amazing quality of life that the West Coast has to offer Chinese homebuyers and a financial safe harbor for investors. Experi will deliver world-class tour operations and affiliates within the Sotheby’s International Realty network will be tapped to offer market intelligence while accessing the finest available real estate offerings in these highly desirable markets.

“We are honored to mark the special occasion of President Xi’s visit to the Pacific Northwest by announcing this unique initiative, combining both a luxury travel experience and the opportunity to explore extraordinary residential real estate opportunities in Seattle, San Francisco and Los Angeles,” said Dean Jones, President & CEO of Realogics Sotheby’s International Realty. “We know this demand already exists. We are excited to partner with leaders in the private travel industry while delivering the program in Mandarin with the appropriate cultural considerations and conveniences.”

Jones says specialized travel is already established with medical tourism, cosmetic tourism, eco-tourism and university tours. “Why not real estate tourism?” he asks. The luxury travel programs will be eight days long and will debut in November 2015.

In addition to touring pre-selected real estate properties, each guest will enjoy specialized shopping excursions for high-end products (fashion, artwork, automobiles, etc.) through a network of local luxury brand partnerships. Guests will also experience special behind-the-scenes access to events, educational opportunities and fine dining during their stays.

“Experi has always provided our guests with meaningful and exclusive shared travel experiences, and now with Sotheby’s International Realty’s incredible properties, we offer a once-in-a-lifetime trip for many to see what makes living in these top-tier West Coast cities so special,” said Rob Rector, Founder and President of Experi.

Rector says interest in travel to the US, and Seattle in particular, has increased since China’s 2013 box office hit, Beijing Meets Seattle (orFinding Mr. Right), which highlights a fairytale lifestyle in Seattle. “Then Obama’s Administration expanded the multi-entry visas for Chinese Nationals from one year to ten years, which effectively opened the US as a top travel destination and second home marketplace,” he said.

Commercial flights on the trip will be offered by Hainan Airlines internationally and Alaska Airlines domestically, however private aviation charters are also available through Experi. Fairmont Hotels will be providing the five-star accommodations in each city.

Read the Press Release >>