Cities in Asia Pacific Becoming Ultrawealthy People Destinations

11 cities becoming the destination of Ultra High Net Worth Individuals (UHNWI) to invest

Ginza, Tokyo - Image credit M Paath Djojonegoro

Super-rich peoples in the world has a very specific purpose transparently illustrate why they are traveling to a specific destination, and regardless of personal or vacation destinations, but they are also very focused on investing.

Those people ultrawealthy, as review in the sites Kompas.com, today, came to be known as the Ultra High Net Worth Individuals (UHNWI) which does have a specific purpose for buying a home and invest in property.

As reported by Alpha Cities Index, released in conjunction with the first edition of the "Global Property Handbook" by Wealth-X, Warburg Realty, and Barnes International Realty who enter 50 cities in the Asia Pacific region.

These cities provide facts contained 10 ranking cities which came from Asia, Tokyo in position 3, Sydney (4), Osaka (6), Hong Kong (11), Singapore (16), Bangkok and Beijing (30), Mumbai (42), Shenzhen (46) and Guangzhou (49) based on assessment using three indicators, namely the factor of practical, emotional, and financial.

In addition there is a practical indicator, composed of four sub-indicators, namely connectivity through air travel, personal security, green traces of the city, and geographical proximity to leading universities. According to the report, only Tokyo that are in the top 10.

"Capital of Japan scored very well on personal safety and connectivity."

Another indicator is the emotional factor is composed of sub-indicators such as UHNWI population, cultural richness such as museums and top class restaurants, five-star hotel, as well as the luxury shopping center.

From the emotional indicators, five Asian cities made it into the top 10, Tokyo (3), Hong Kong (5), Beijing (7), Osaka (8), and Singapore (10).

The last indicator is the financial factor is to see that the ease of doing business, property values, property tax competition, and safety deposit investment as an important factor for ultrawealthy people to put their money in one city or country.

At this point, Wealth-X wrote the report, Sydney was in the top ten positions and outperformed other cities in Europe and America.

"Sydney won the first position in the financial factors for the competitive property tax and property value per square meter are relatively affordable as well as its status as a regional financial center of Asia Pacific."

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Source: R Aji Pitoko - Kompas.com, Alpha Cities Index, Wealth-X
Image: M Paath Djojonegoro