All Press Releases for February 01, 2014

Booming Number of Asian Super Rich Flock to Invest in Monaco Real Estate

Asia owns 24% of the total world private wealth with nearly one third of it held in real estate, mostly in international properties. With rising profits, Asian high net worth individuals (HNWI) have developed an appetite for trophy homes in Monaco.

"These are the consumers for whom money is no object and they spend on every kind of luxury goods and service," says Michael Silverstein of Boston Consulting Group.

    MONACO, February 01, 2014 /24-7PressRelease/ -- Asian ultra-high net worth individuals show keen interest in investing in Monaco property, as the Principality remains one of the safest places for wealth storage. Today Asia has a climbing number of uber-rich individuals, whose assets are expected to significantly increase in value over the next couple of years.

As the 2013 Asia-Pacific Wealth Report shows, HNWI with over $1 million in investable assets will see their wealth rise to $15.9 trillion by 2015. With so much money to invest, the attention of the wealthy is directed abroad. According to the 2013 China Private Wealth Report, 56% of respondents from a HNWI group have either started the process of emigration from China or consider doing that in the near future. The reasons for that are vast: from ecological pollution to a stressful business environment in China. As a result, a large proportion of their wealth gets directed towards top locations for luxury residential investment, such as London, Switzerland or Monaco.

"These are the consumers for whom money is no object and they spend on every kind of luxury goods and service," says Michael Silverstein of Boston Consulting Group.

Although rich Asian individuals spend their cash on a variety of luxury products, such as yachts or private jets, according to recent figures nearly 28% of their wealth is invested in real estate. Europeans, for example, have 8% of their wealth held in real estate.

This opens incredible opportunities for luxury real estate markets, such as the one of Monaco. The Principality with its clean environment, pleasant climate, jet set society and sumptuous Monte-Carlo property for sale can successfully use this window of opportunity, which Asian investors now present. Asian HNWI no longer look for traditional luxury; their tastes have gone up a notch.

"You've got a Chinese demographic with a lot of money now. That's not entirely new. They've had money for a while. But their tastes are changing," says Christine Lu, founder of Affinity China.

Property for sale in Monaco is of the highest caliber of luxury. Yet, it is limited and, thus, for the best offers a reputed real estate agent is a must.

La Costa Properties Monaco represents the finest Monaco properties throughout the Principality and in the neighbouring French Riviera. Clients seeking to buy or rent Monaco apartments, offices, villas, penthouses, or other real-estate investments, can be sure of receiving professional guidance from qualified and experienced brokers. La Costa Properties Monaco provides serious and competent management of all assets and necessary advice in legal and accounting matters.

Visit the La Costa Properties Monaco website which is regularly updated with listings of in Monaco that will be of interest to the serious and discerning buyer or tenant.

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