{"id":14183,"date":"2012-10-03T20:10:21","date_gmt":"2012-10-03T20:10:21","guid":{"rendered":""},"modified":"2012-10-04T01:10:18","modified_gmt":"2012-10-04T01:10:18","slug":"Asia-s-ultra-wealthy-invest-in-real-estate","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=14183","title":{"rendered":"Asia’s ultra-wealthy invest in real estate"},"content":{"rendered":"

Out of the total amount of real estate investments put in by Asian investors last year, nearly a third or US$70 billion were from the ultra-wealthy.<\/strong> <\/p>\n

According to a report from Singapore-based consultancy firm Wealth-X, 250 billion out of US$1.9 trillion of the ultra-wealthy Asians’ net worth were from real estate. <\/p>\n

“There are so many ultra-high net worth individuals globally, 187,000 in total, 43,000 in Asia alone,” said Mykolas Rambus, the CEO of Wealth-X. <\/p>\n

“We are talking about over US$25 trillion of wealth they have in excess. For example the average ultra-high net worth (individual) has in China, US$41 million in liquid assets in cash and cash equivalent, ready to invest.”<\/p>\n

According to the report, most of these Asian ultra-wealthy individuals are from China, Hong Kong, Indonesia, Malaysia and Singapore.<\/strong> <\/p>\n

Other market watchers say most of them are not real estate speculators. <\/p>\n

“These ultra-high net worth individuals don’t make decisions on a whim,” said Colin Tan, research head of Chesterton Suntec. <\/p>\n

“They may have considered their decisions to invest in a property or the real estate market over a period of time. They are likely to follow a long-term approach and accumulate properties.”<\/p>\n

Singapore remains a safe haven for ultra-high net worth investors, particularly those from China looking to diversify their investments beyond China. <\/p>\n

Despite recent cooling measures in Singapore, the number of real estate transactions in the second quarter increased by 37 per cent from the previous quarter.<\/p>\n

Market watchers say foreign investors are most adverse to capital gains tax<\/strong>, where a certain amount of profit must be paid to the authorities.<\/p>\n

Source www.channelnewsasia.com<\/em>
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