How are UHNWIs creating wealth in 2023?
Ten key findings from our annual Attitudes Survey 2023 giving insight into ultra-high-net-worth-individual investment trends.
2 minutes to read
The Attitudes Survey forms the building blocks of The Wealth Report, providing valuable insight into the trends, motivations and attitudes of global ultra-high-net-worth individuals.
Here we explore the top ten findings from our respondents.
1
Global movement has been tempered by the pandemic, but the desire to be mobile is proving resilient. Some 13% of UHNWIs are planning to apply for a second passport or new citizenship, down from the 15% recorded in last year’s report.
2
Globally, a third of total wealth is allocated to UHNWI’s primary and secondary homes. More than a quarter is held outside their country of residence, on average. UHNWIs in the Middle East (41%) have the highest global footprint.
3
The average UHNWI owns 4.2 homes globally. UHNWIs in Asia have the greatest appetite, owning an average five homes each. This demonstrates the unwavering global appeal of residential property
4
Higher interest rates will temper demand for residential property in 2023. Some 15% of UHNWIs are looking to purchase a residential property this year, down from 21% in the previous year’s survey. Appetite is highest amongst Middle Eastern UHNWIs
5
The US, UK and Spain are the top three locations for purchasing homes. Australia and France round out the top five.
6
UHNWIs are increasingly diverse, both by geography and asset class. More than a fifth of our respondents’ investable wealth is directly invested in commercial property and a similar proportion is held overseas.
7
Real estate was identified as a top opportunity, both for direct and indirect investment. One in five UHNWIs are planning to invest directly in 2023, with 13% looking for indirect opportunities. This is broadly in line with the 20% of last year’s survey, indicating the attraction of property as a haven during economic uncertainty.
8
Healthcare, logistics/industrial and offices are the top target sectors for UHNWIs in 2023. The private rented sector (PRS) and hotels/leisure complete the top five. Around a third of respondents are interested in each of the top five sectors in 2023.
9
Energy source (57%), opportunity for refurbishments (33%) and materials used/the embodied carbon footprint (30%) are increasingly being looked at by UHNWIS when purchasing investment property.
10
Art is set to remain the most sought-after investment of passion in 2023 with 59% of UHNWIs likely to make a purchase. Watches come in second, with 46% looking to purchase, followed by wine with 39%. In terms of how much they will spend – art is again at the top, followed by classic cars and wine.
Download the full report
Download the full report for more in depth analysis and the latest trends relating to global wealth.
Download the report