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Thursday, 05 March 2015 09:20

Ultra wealthy choose Spain as a resident

They are exactly 3,538 HNWIs, with at least 30 million dollars in 2014 Spain had as a residence. Ultra rich or as they say whites, ultra high net worth individuals (UNHWIs), who chose our country to live. Just a thousand set up residence in Madrid or Barcelona. The rest were spread throughout the Spanish geography.

This was revealed by the report The Wealth Report 2015, presented in Madrid by property consultant Knight Frank, which shows how the figure, despite the crisis, has increased in recent years and will rise sharply in the future. "Madrid and Barcelona add 982 HNWIs, 14 more than last year, while in Spain, we are talking about 63 ultra rich more than a year ago, and following a clear upward trend that is contributing to rising prices for luxury residential "said Humphrey White, managing partner of Capital Markets at Knight Frank.

In fact, although in the last year the increase was only 2% in the last decade, the figure has increased by 38%. In 2004 there were some 2,500 large fortunes residing in Spain, while for 2024 it is expected that the figure approaches 4,400.

With 544 super rich, Madrid is the ninth European city with the highest concentration of large estates -for front of Munich, Stockholm and Oslo-, while with 438, Barcelona is placed at number 15.

Although not listed in the report, speaking of super rich in Spain, the first name that jumps to the fore is inevitably that of Amancio Ortega with assets of 64,500 billion, according to Forbes magazine. A figure that undoubtedly dwarfs the 30 million dollars needed to become part of the exclusive club of the ultra rich.

And, within HNWIs, there are also different levels of wealth. For example, the super rich with several hundred million euros in its salary barely above five hundred -in front of the total of 3.538-, although Knight Frank expects the figure to increase significantly over the next decade to almost 700 individuals. The figure is further reduced in the case of billionaires. That is, those with assets of more than 1,000 million euros. Just 22 they are residing in Spain in 2014 and just 27 in 2024 will do.

In addition to Amancio Ortega could appear perfectly on the list his daughter Sandra Ortega, who has raised his fortune in the last year to 6,300 million dollars Juan-Miguel Villar Mir, with 5,700 million dollars or Juan Roig with a fortune of 5,400 million in the three cases according to Forbes magazine.

The report, which analyzes investment and attitudes of HNWIs, as well as the main trends on the behavior of wealth in the world, reveals how, worldwide there are 172,850 individuals with more than $ 30 million worth, 3% more than in 2013. in Spain, the growth was only 2%, in line with countries like Canada or Germany, but the forecast for the next 10 years is an increase of 24%.

"The wealth in the world continued to grow over the past year. In fact, during 2014, about 15 people joined the ranks of daily rich losultra "said Kate Everett-Allen, Partner International Research Fran Knight." In a decade-from 2004, the number of HNWIs has increased by 61% and the trend is to continue to increase, up to 34% over the next 10 years, "he says. In addition, Knight Frank expects the world population of people with extremely high purchasing power registered an increase of 34% to a total of 231,000 super-rich. London continues to lead the list with 4,364 ultra wealthy residents, followed by Tokyo and New York with 3,575 to 3,008. And up.


The proliferation of large fortunes has had a direct effect on the prices of luxury homes. "In the past 12 months, prices have increased 5.1% in Madrid, the same increase as in the city of London, and 3% in Barcelona," said Humphrey White. The Prime International Residential Index (PIRI by its acronym in English) reflects how in Ibiza, Barcelona and Sotogrande have not been outside these price increases, with increases of 5%, 3% and 2% respectively. New York leads the PIRI with increased property luxury 18.8% over last year, followed by Aspen (16%), Bali (15%) and Istanbul (15%).

Madrid, meanwhile, is ranked 32 index at the same level as London and Bangkok markets, with growth of 5.1% in the prime residential prices over the previous year. "Stresses that the prime prices in Madrid rose 5% while the trend was European descent, namely an average of 0.4%," adds Everett-Allen.

According to the report of the consultant, real estate are the mainstay of the investment strategies of many people with extremely high purchasing power representing, on average, nearly a third of their investment portfolios. "But the bricks are not only tangible assets with demand. The so-called emotional investments like art, wine and classic cars, is attracting more and more interest."

The report also reveals how the nascent economic recovery in Spain and real estate revival experienced during the past year have allowed Madrid between full among the twenty most desirable cities among the world's wealthiest citizens. Immense fortunes, although still prefer London, New York and Hong Kong to take up residence, first directed his gaze toward our country.

For the first time in nine editions of this study, Madrid enters the top 20 and makes it at number 18 ranking, ahead of cities like San Francisco, Amsterdam and Dublin.

Digital Newspaper El Confidencial