The real estate market is divided into residential, commercial, retail and luxury property market. Each segment has its own significance and the prices also vary accordingly.
At the top of the cost and status pyramid is the luxury property section. Recently, these markets have been the talk of the property town. The Luxury markets are fuelled by the investments of the High Net Worth Individuals (HNI).
You ask how? Here it is.
There are a lot of books and documentaries that will explain to you how the rich get richer. The core idea behind every "rags to riches" story is - investment. Business giants and trade moguls have always believed in investing their money and they have been forever faithful to the age old saying:
"Land/property never fails you"
In a recent annual wealth report released by Knight Frank, a popular real estate intelligence firm, it was revealed that Bali and Indonesia were the best markets for luxury real estate with property prices rising by large percentages. On the whole, the global luxury real estate market yielded mixed results. While the Asia-Pacific region fared particularly well, the European region struggled.
However, the rich have their reasons for investing in or favoring a particular city. While some cities win with their "business importance and trade hub" features, others acquire an edge for being a "prospective developing city".
Check out the top five favorite cities of the rich in the slideshow here.