The islands take preference for the rich and influencial amongst us!
Multi Millionaires are increasingly investing in real estate within islands such as Bermuda, Fiji and other attractive archipelagos. Increasingly they are amongst the most coveted places in the world. They are usually bought for use as a glamorous third residence or as a desirable place to live. Recent interest has driven a rise inboth business activities and in increased sales of these properties.
“In this alternative market there are three types of buyers: the developers who want to build luxury resorts, rich environmentalists who work closely with governments to preserve wildlife paradises, and people with high purchasing power who believe that urban paradises have become too conventional and have lost its glamour, “says Salman Madhi, Deutsche Asset & Wealth Management.
Over the next four years, by 2018, it is estimated that there will be a 22 % increase in the interest of these alternative properties. It is believed that the majority of the demand will come from Asia in particular.