Six per cent of global ultra high net worth (UNHW) people are expatriates, according to Sotheby’s International Realty (SIR) Affiliates LLC, which has set out to trace their footsteps, explain their movements and find out more about their preferred locations. After putting the pieces together, it found that Malta might stand to gain.
At a SIR event in Rome for Europe, Middle East and Africa (EMEA) affiliates, a presentation revealed that UNHW people move for various reasons, including the internationalisation of business holdings, educational institutions stimulating foreign demand, ease of travel and the rise of global citizenship investor programmes.
The UHNW crowd tends to move to locations where these opportunities exist. Interestingly, 12 of the top 40 most important cities to UHNWI are in Europe. London, Paris and Zurich are in the top 10, followed by others such as Geneva, Frankfurt, Madrid, Vienna and Milan.
During the event, SIR Affiliates president and CEO Philip White inaugurated the new offices in Rome and Poland. He said: “Expansion across Europe continues our commitment to provide access to the network’s exclusive real estate services in key cities around the world.”
SIR is further strengthening its European network to capitalise on its growing potential. This is good news for Malta. The island has already been featured as a location of choice as well as a tax haven for foreign investors. Having recently embarked on its own citizenship investor programme, Malta is more ideally placed and likely to attract UHNW people.
Malta SIR was represented in Rome by joint owner and director Michael Zammit and director Roger Strickland, who highlighted the fact that the exceptional opportunities for the Maltese market brought about by SIR globally was limitless. The EMEA event enabled Malta SIR to strengthen and grow its network in Europe and the Mediterranean region, expanding its prospects of promoting Malta and attracting new investment in luxury property to our shores.
The event coincided with the SIR brand ranking number one in real estate for eight years running. Franchise business review president Michelle Rowan said “the brand’s continuous efforts to find ways to strengthen the brand and relationship with its franchise partners won it the honour of being ranked number one overall on our list of 200 brands with the strongest validation from their franchisees this year”.
The SIR network currently has over 16,400 sales associates in approximately 730 offices in 56 countries and territories worldwide. SIR listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and their clients will benefit from an association with the Sotheby’s auction house and worldwide SIR marketing programmes. Each office is independently owned and operated.
Malta SIR services the high-end real estate market, and aims to live up to the global brand’s mission of providing extraordinary properties that meet the lifestyle and preferences of their tenants.
For further information about listing property with Malta SIR or to enquirie about its property listings and other services, visit the website below or e-mail info@maltasothebysrealty.com.
www.maltasothebysrealty.com/eng