How do the ultra-rich invest in property? TV drama Succession may hold some cues - CNA Luxury

Though Succession is fiction, the way they portray the thinking of the ultra-rich is spot on. For many ultra high net worth individuals (UHNWI), their mantra is to act swiftly but think long-term. Apply that to property, and you realise those Patek Philippe ads had it right all along: What you’re buying is never for you, but for the next generation.

Looking into the future is key for ultra high net worth individuals and families, many of which hedge their bets on real estate as part of their portfolio even during the “permacrisis”.

“The main motivations for UHNWIs when it comes to acquiring property are twofold. Our clients definitely invest in properties as a private escape for their family, and the other is as part of their portfolio of investments. In the 2023 Knight Frank Wealth Report, we saw UHNWIs allocating 41 per cent of their portfolio to property and we saw the highest level of private investors investing into the commercial space, too,” shared Victoria Garrett, Head of Residential Asia Pacific at Knight Frank.

When it comes to property, the ultra-rich don’t look only at the potential increase of value. Their various purchases correspond to their needs and desires — be that housing children attending Ivy League universities, looking for “bunker-style” homes in sparsely populated locations or choosing a respite from the pressures of business. Research from the report found that the US, UK, Spain, Australia and France are the top five destinations for purchasing homes globally.

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