The American dream may no longer be exclusively within America's borders for the highest-income earners. In fact, a whopping 92% of the country's wealthiest households were interested in purchasing real estate abroad last year, according to the Coldwell Banker Global Luxury Report. This desire to move overseas is fueled by several factors, one of which is the rise of remote work that allows the wealthy to live elsewhere without disrupting their careers.
Many of these wealthy individuals already own property overseas, but now they want to turn these investments into primary residences or purchase their first homes abroad. The desire for a higher quality of life at a more affordable cost, along with a need to future-proof their wealth, also drives their interest in buying property abroad.
Many of these wealthy individuals already own property overseas, but now they want to turn these investments into primary residences or purchase their first homes abroad. The desire for a higher quality of life at a more affordable cost, along with a need to future-proof their wealth, also drives their interest in buying property abroad.
Furthermore, the political and cultural climate in the US is causing many of these individuals to seek greener pastures. Thanks to the Golden Visa program, wealthy individuals can secure second passports, residency, and citizenship in foreign countries as long as they bring their money with them. Central America, Asia, France, and Portugal are some of the top destinations for these mobile millionaires.
Overall, the reasons behind the wealthy's desire to purchase property abroad are varied, but the opportunity for a better quality of life, the need to future-proof their wealth, and a desire to escape the political and cultural climate in the US are among the most common.
Overall, the reasons behind the wealthy's desire to purchase property abroad are varied, but the opportunity for a better quality of life, the need to future-proof their wealth, and a desire to escape the political and cultural climate in the US are among the most common.
