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The ultra-wealthy love the US for second homes

New study by Wealth-X and Sotheby’s International Realty shows preference for US properties
  • Miami is well beyond a vacation community, and both locals and international buyers are steering toward the city
  • The US is the most popular market for second homes for the very well-heeled.
  • The report singles out Miami as popular market for multi-homers, especially for Latin Americans.

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The world’s super-rich are really a lot like the rest of us, says a new study by Wealth-X and Sotheby’s International Realty. In taking a look at what ultra-high net worth (UHNW) individuals look for in a second home, the Wealth-X and Sotheby’s International Realty UHNW Luxury Real Estate: Multi-Homers Report found that this high-class sector of buyers look at properties with an eye toward what many of the rest of us do. They want a fit with their personal and family needs, yet also look for environmental sustainability. And, they want technologically sophisticated homes, which, for the most part, are not available at more accessible price points. The U.S. is the most popular market for second homes for the very well-heeled. The UK and Switzerland are also on the UHNW population’s shopping list. Four types of luxury home types are the favorites of global ultra wealthy: Green Homes, Smart Homes, Private Islands and Serviced Apartments. These types of homes speak to the...