INSUBCONTINENT EXCLUSIVE:
74% of the respondents prefer UK for buying property, according Knight Frank's Attitude Survey.Ultra-high-net-worth individuals or some of
the richest people in India are buying properties abroad, according to the Attitudes Survey conducted by global real estate consulting firm
The United Kingdom and United States are among the preferred destinations for the ultra-rich Indians to buy real estate
According to the survey, 74 per cent of the respondents prefer United Kingdom (UK) while 39 per cent responded favourably towards United
States for buying property."US and UK are of high interest for the ultra-rich Indians from business as well as leisure and lifestyle
These also remain the top choices of investment or self -use purchase for the coming years," Knight Frank said in a press release on
Wednesday.Meanwhile, Australia is the destination of choice for Asian Ultra-High-Net Worth Individuals (UHNWIs) who plan to buy a new home
overseas or invest in property in the coming year, based on a Knight Frank survey of 600 private bankers and wealth advisers who between
them manage over US$3 trillion of wealth for UHNWI.According to the Attitudes Survey in Knight Frank's Wealth Report, 25 per cent of
ultra-rich Asians, plan to buy a home outside their country of residence by 2020, higher than the global average of 22 per cent
18 per cent of ultra-rich Indians showed affinity towards purchasing homes outside of their domicile country.A key driver influencing
ultra-rich Asians' decisions to purchase property overseas is education
Australia, the UK, Canada and the US have a high number of top-tier universities, and many UHNWIs send their children abroad for education,
the global real estate consulting firm said.Among ultra-rich Indians, 40 per cent prefer to send their off-spring to foreign locations for
their primary and secondary education, while a higher 62 per cent gravitate towards sending their children for higher education."Indians are
progressively increasing their global footprint with UHNWIs getting attracted to the quality of services in these countries
We have seen a growing trend in purchase of properties amongst India's wealthy across the globe
It would be worthwhile to point out that Indians are contributing significantly to global wealth creation," said Shishir Baijal, Chairman
and Managing Director, Knight Frank India.
