2023-04-26-莱坊-2023年财富报告_68页_9mb

Global Perspective on Prime Property and Investment: 17th Edition 2023

• Context: The "permacrisis" of 2022 (health, economic, geopolitical) led to wealth declines (global UHNW wealth fell 10%), but 2023 sees renewed optimism, with 69% of HNWIs expecting wealth growth. Resurgent inflation and rates have shifted investment focus, with a priority on prime residential and commercial assets.

• HNWI/UHNWI Definitions: High-net-worth individuals (wealth ≥ $1M, incl. primary residence) and Ultra-high-net-worth (≥$30M). Europe is wealthier but more exposed; Africa shows resilience.

• Prime Property Definition: Top 5% globally by value (e.g., Dubai, Miami). Record spending in super-prime (US$10M+), driven by luxury, healthcare, and logistics.

• Investment Trends:

  • Real Estate Dominance: Highest ESG priority; residential (32% of total wealth) and commercial (21%) assets lead. Cash purchases rose to 49% in 2023, signaling inflation hedges.
  • ESG Focus: Environmental sustainability (carbon emissions, green refurbishments) is key. ESG criteria vary by region.
  • Geographic Shifts: Dollar-based buyers remain key, with London, Monaco, and Singapore attracting cross-border interest. Emerging markets like India and Brazil gain traction.
  • Urban/Resort Demand: Hybrid working and post-pandemic "revenge spending" fuel demand for resorts and multi-family residential (e.g., UK, Hong Kong).

• Rising Asset Classes:

  • Cryptocurrencies: Down 2% in global allocation, deemed less credible post-COVID and crisis.
  • NFTs: Slump due to regulatory clampdown and crypto fallout, though potential remains for niche players.

• Key Market Findings:

  • Price Growth: Dubai (44%) and Aspen (28%) lead price hikes; Barcelona (+7%) lags the U.S. boom.
  • Cross-Border Activity: Asia (Singapore, Dubai) and Europe remain hubs. Agreements like AI-ECTA boost land value growth in India.
  • Commercial Property: UK offices lead investments (19% global allocation) fueled by DEFRx legislation. Logistics and healthcare sectors surge.
  • Global Connectivity: Post-pandemic, flight reductions (China, EU) reduced network centrality, pushing emerging hubs (Turkey, Dubai).

• Key Risks: Regulation, taxes, geopolitical instability, supply chain constraints. Sustainable finance poses challenges for affordability (e.g., higher interest costs).

Conclusion: 2023 sees stabilization post-pandemic, with a focus on REITs, residential assets, and sustainable ESG frameworks. Rising rates temper growth, but wealth diversification and new asset classes continue to attract investment.