Wealth-X & Sotheby's International Realty Release UHNW Luxury Real Estate: Multi-Homers Report

According to a new study released by Wealth-X and the Sotheby’s International Realty® brand, more and more ultra high net worth (UHNW) individuals are buying second homes outside of their domiciles. The report revealed that there are currently more than 211,000 UHNW individuals around the world and that their purchase of international homes has risen.

“Our partnership with Wealth-X has proven to be invaluable as we continue to explore the motivations of the world’s ultra high net worth,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates, LLC. “The research from our latest report uncovers current trends in home purchasing behavior and chief lifestyle considerations, helping us gain insight into investment strategies of the UHNW population.”

As the report reads, “five years ago international homes accounted for 11% of non-primary UHNW residences, whereas they now account for 16%.” Further, “nearly 80% of UHNW individuals own at least 2 homes and over half own at least 3 homes.”

According to the report, “while many of these homes are being purchased in traditional UHNW centers, additional home buying is becoming a truly global enterprise.” The image below spotlights “the top 10 secondary residence countries, outside primary business country”:

Realogics Sotheby’s International Realty (RSIR) has emphasized the importance of Chinese international buyers for the last few years. Among their many initiatives, RSIR most recently announced a partnership with Tiger Oak Publications on an all-Mandarin magazine, “Seattle Luxury Living,” to target affluent Chinese consumers both locally and overseas. In addition, they launched a “Fly and Buy” luxury tourism program and are developing an exclusive We Chat App that will feature the Seattle Luxury Living content as well as other market reports, featured listings and reference resources for Mandarin-speaking homebuyers exploring investment in the Pacific Northwest. Read more about the firm’s initiatives >>

Other key findings from the report:

• The average UHNW Mult-homer is 63 years old, has a net worth of US$165 million and is married.
• The United States is the most popular location for second homes among the ultra wealthy, followed by the United Kingdom and Switzerland.
• Four types of luxury home types have emerged as favorites among the global ultra wealthy: Green Homes, Smart Homes, Private Islands, and Serviced Apartments. These types of luxury residences serve their needs, aspirations, and lifestyle considerations.
• The Caribbean and the Mediterranean remain favorites among UHNW buyers for private island homes, but Southeast Asia, Canada, Belize and the United Kingdom are gaining popularity.
• UHNW Multi-home buyers are fueling market growth in regions beyond urban hubs such as London, New York City and Hong Kong. The report profiles Miami, Florida; Geneva, Switzerland; and Long Island, New York.

Read the Full Wealth-X & Sotheby’s International Realty Report >>

Introducing an Exclusive Apple News Partnership

We are so proud to share that Sotheby’s International Realty is now 1 of 20 exclusive advertising partners on the Apple News app now through the end of December and the only real estate company.

Apple News is a brand new application baked into every Apple device running iOS 9 or newer, allowing our brand to potentially reach over 800 million iPhones and iPads.

You can add the Sotheby’s International Realty channel within Apple News, which has content automatically fed via the Extraordinary Living blog. It can be found by searching for Sotheby’s International Realty within the News app, or clicking here on your iOS device.

Proven Results: Since going live on 10/16, Apple has been the #3 overall traffic driving source to SIR.COM behind Search and Facebook. 98% of those users are NEW to SIR.COM.

SIR.COM Wins WebAwards

We are proud to announce that the recently revamped Sotheby’s International Realty® website was recognized by the Web Marketing Association with the “2015 Outstanding Website WebAward” and by W3 with the “2015 W3 Gold Award.” With a great focus on creating the best possible user experience, the new sothebysrealty.com continues the brand’s tradition of revolutionizing Luxury Real Estate in the digital space.

The new design changes include an increased focus on full-screen, high-definition video throughout the site, from the homepage to property detail pages, to allow for a more immersive consumer experience. High-resolution photography also plays a more prominent role. The property detail pages feature: slideshows that tell a home’s story via the captions, custom video, location overviews that provide insight into the local area via video and text, and a seller or expert quote that offers a personal view of the property.

About Web Marketing Association: Since 1997, the Web Marketing Association’s annual WebAward Competition has been setting the standard of excellence for Website development. Independent expert judges from around the world review sites in 96 industries. The best are recognized with a WebAward which helps interactive professionals promote themselves, their companies, and their best work to the outside world.

Explore SIR.COM >>

Sotheby's International Realty Brand Welcomes Cape Cod Firm

Sotheby’s International Realty Affiliates LLC today yesterday that New Seabury Real Estate on Cape Cod, Massachusetts, is the newest member of its real estate network and will now operate as New Seabury Sotheby’s International Realty.

The firm, which is owned and operated by Christopher Burden Jr. and Amanda Prince, has three offices around the Cape and will service New Seabury, Popponesset and the greater Cape Cod area.  With this addition, the Sotheby’s International Realty brand now has four member companies on Cape Cod including: Atlantic Bay Sotheby’s International Realty, oldCape Sotheby’s International Realty, Sotheby’s International Realty – Falmouth Brokerage and Sotheby’s International Realty – Osterville Brokerage.

“Christopher Burden and his team are seasoned real estate professionals who have extensive market knowledge about the community in which they serve,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “We are proud to welcome New Seabury Sotheby’s International Realty to our network.”

The firm has served the greater Cape Cod area since 1970.  “Affiliating with Sotheby’s International Realtyallows our company to have access to high caliber marketing opportunities and technology, as well as worldwide exposure,” said Burden.  “We are thrilled to be a part of a globally recognized brand.”

The Sotheby’s International Realty network currently has more than 17,000 sales associates located in approximately 800 offices in 61 countries and territories worldwide.  New Seabury Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website.  In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.  Each office is independently owned and operated.

Sotheby's International Realty Brand to Expand Luxury Presence within the Middle East

Sotheby’s International Realty Affiliates LLC today announced plans for the brand’s expansion into five additional Gulf countries, complementing its existing presence in the United Arab Emirates. Within the next year, the brand’s affiliate brokerage in the region, Gulf Sotheby’s International Realty, is expected to enter the important new markets of Saudi Arabia, Qatar, Bahrain, Kuwait and Oman, greatly increasing the brand’s presence in the Middle East.

“Increasing our brand presence in the Middle East is yet another example of our commitment to providing the Sotheby’s International Realty network’s exclusive real estate services in luxury property destinations around the world,” said Phillip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “The Middle East continues to be one of the most important sources of cross-regional capital into the global real estate market and we are proud to support Gulf Sotheby’s International Realty as the company expands its footprint and continues to provide robust regional market intelligence to its clients.”

Currently operating in Dubai and Abu Dhabi, Gulf Sotheby’s International Realty is led by Chairman George Azar.  The firm intends to open seven new offices around the region including Riyadh, Jeddah and Dammam in Saudi Arabia and also in Qatar, Bahrain, Kuwait and Oman.

“We are excited to be growing our company and widening our range of services to span the Middle Eastern region,” said Azar.  “Our goal is to achieve the highest sale price for our clients, but achieving this means equipping investors with sound intelligence about the property market and its potential. Our clients are sophisticated high net worth individuals and institutional investors who need to understand the underlying fundamentals of the markets in which they invest. This is why we have consistently surpassed our own sale price targets in 2015, despite the slowdown in the Dubai property market.”

The Sotheby’s International Realty network currently has approximately 17,000 sales associates located in approximately 800 offices in 61 countries and territories worldwide.  Gulf Sotheby’s International Realty listings are marketed on the sothebysrealty.com global website.  In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and their clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.  Each office is independently owned and operated.