Per a great article from Luxury Daily, Mexico is the leader in second residential homes from high-net-worth U.S. individuals.
Said Jerry Hourihan, President of AIG Private Client Group, U.S. and Canada: “Ultra-high-net-worth individuals and families are more mobile than ever, and their insurance needs are more fluid. They typically own property in multiple locations across the U.S. as well as outside the country. In addition, they have experience.”
While the Americas are popular among these U.S. consumers, in the next three years, 60 percent of high-net-worth Chinese consumers are likely to purchase investment real estate properties in the United States. Leading cities for such are reportedly Los Angeles, San Francisco and Seattle.
For more statistics and AIG-related findings, check out Brielle Jaekel’s piece for Luxury Daily.