The richest investors in property have increased their wealth by 35 per cent in the past 12 months, meaning a swelling of wallets to the tune of £55.8bn since 2013.
A new rich list compiled by Estates Gazette reveals the richest 250 people in world property have so much wealth, that £100m is needed to get onto the list at all. Two years ago, all that was needed to make the cut was a piffling £50m.
The richest of them all is Amancio Ortega of Inditex fame. He has a princely fortune of £35.8bn, of which £4bn is invested in property. Closer to home, the richest domiciled in the UK are the Reuben brothers of Aldersgate with £9bn between them.
The infographic above shows who the richest property investor is for various regions across the UK. To make the cut you needed to be on the global list and be domiciled in the United Kingdom. Also added for reference are Ortega and the richest woman on the list, Kirsty Bertarelli.
London’s high rise buildings are a haven for investors, with a large percentage of new investments coming from overseas.
The EG Rich List reveals how financial power in London is shifting. Until last year, the Duke of Westminster topped every EG Rich List. In 2013 the Duke slipped to number four, as Asian investors made their mark in London. This year that’s changed again, with the Duke himself falling to seventh.
With our new number one, Amancia Ortega, from Spain, Brazllian Jospeh Safra at number two, Italian-born, Swiss businessman Ernesto Bertarelli at number three and Hong Kong property magnate Henry Cheng Kar-Shun at number four, it’s clear that London is now a world city like no other.
Uniquely, London is both a safe haven and a world city whose property market has allowed smart investors to accumulate vast wealth. For high net worth individuals with an appetite for property, there’s no better place on the planet to work, invest and play.