The New York Times on Why the Rich Are Now Parking Money in Luxury Homes
19 Nov

The New York Times on Why the Rich Are Now Parking Money in Luxury Homes

While owning residential real estate is typically part of a diversified investment portfolio, what is different in the last year or two is the role the uncertain economy is playing in making purchasing decisions.

The middle-market buyers are spending $250,000 to $500,000 on single properties, but high-net-worth individuals are spending $1 million or more in many markets, including the Caribbean and Europe, said Ms. Peddicord, the founder of the Live and Invest Overseas publishing group. “We’re seeing increased interest in Panama and countries where the U.S. dollar is strong,” she said. These include France, Spain and Portugal.

Read full article in The New York Times

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