Where the World’s Super-Rich Send Residential Prices Soaring

Vancouver Daily Life BuildingsNEWSFLASH!

Foreign buyers invested approximately $25 billion in cross-border residential real estate in 2014, according to Chicago-based Jones Lang LaSalle, an investment management company that specializes in property. From 2008 to 2012, average house prices in Hong Kong – ranked as the world’s least-affordable city for housing – rose more than 117%, according to the Global Property Guide. The average property in London costs $750,000, a one-year jump of 19%, according to Britain’s Office for National Statistics. Sotheby’s Auction House calculates there are 211,275 ultra-high-net-worth individuals (UHNWIs) on the planet – defined as those with $30 million or more in the net assets. And 79% of them own at least two homes.”

From USA Today