Ultra Wealthy Buyers Seek Non-Traditional Homes Abroad, New Study Shows

New York – November 10, 2015 – An increasing number of ultra high net worth (UHNW) individuals are buying non-traditional homes outside their domiciles according to a new study by Wealth-X and the Sotheby’s International Realty® brand.

Wealth-X has identified more than 211,000 ultra high net worth individuals globally – defined as those with US $30 million and above in net assets – and 79% of them own two or more residences.

The Wealth-X and Sotheby’s International Realty UHNW Luxury Real Estate: Multi-Homers Report reveals that these UHNW buyers look for residences that are environmentally sustainable, technologically sophisticated, or that fit better with their personal and family needs.

Below are other key findings from the report:

-The average UHNW Multi-homer is 63 years old, has a net worth of US $165 million and is married.

-The United States is the most popular location for second homes among the ultra wealthy, followed by the United Kingdom and Switzerland.

-Four types of luxury home types have emerged as favorites among the global ultra wealthy: Green Homes, Smart Homes, Private Islands, and Serviced Apartments. These types of luxury residences serve their needs, aspirations, and lifestyle considerations.

-The Caribbean and the Mediterranean remain favorites among UHNW buyers for private island homes, but Southeast Asia, Canada, Belize and the United Kingdom are gaining popularity.

-UHNW Multi-home buyers are fueling market growth in regions beyond global urban hubs such as London, New York City and Hong Kong. The report profiles Miami, Florida; Geneva, Switzerland; and Long Island, New York.

Wealth-X President David Friedman commented: “Wealth-X is pleased to partner with the Sotheby’s International Realty brand for this fourth joint report in 2015. This report underscores Wealth-X’s commitment to conducting ground-breaking research on the world’s ultra high net worth (UHNW) population. Expert commentary from Sotheby’s International Realty complements Wealth-X’s global intelligence on the world’s UHNW population, producing a report that demonstrates a true collaboration between the world’s leading UHNW intelligence provider and the global leader in luxury residential real estate.”

“Our partnership with Wealth-X has proven to be invaluable as we continue to explore the motivations of the world’s ultra high net worth,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates, LLC. “The research from our latest report uncovers current trends in home purchasing behavior and chief lifestyle considerations, helping us gain insight into investment strategies of the UHNW population.”

Download the latest report here.

The Wealth-X and Sotheby’s International Realty reports look at trends in the UHNW population’s appetite for luxury residential real estate across the world, identifies specific attitudes, behaviors and locations that matter to this industry and this wealth segment.

View previous joint reports below:

Global Luxury Residential Real Estate Report
Europe, Middle East and Africa Luxury Residential Real Estate Report UHNW Luxury Real Estate Report: Homes As Opportunity Gateways

About Wealth-X

Wealth-X is the global authority on wealth intelligence, providing sales, marketing, strategy and compliance solutions to clients in the financial services, luxury, not-for-profit and education sectors. Its award-winning research and thought leadership are regularly cited by the world’s media such as CNBC, Financial Times, Thomson Reuters and BBC. Wealth-X has more than 250 staff in 10 global centers, including Singapore, London and New York (www.wealthx.com)

About Sotheby’s International Realty Affiliates LLC

The Sotheby’s International Realty network currently has approximately 17,000 sales associates located in approximately 800 offices in 61 countries and territories worldwide. Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world.

Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp(NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruitingeducational and business development resources. Each office is independently owned and operate. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. (www.sothebysrealty.com)

Using a Realtor vs. FSBO

Selling property “For Sale by Owner” is a much talked about topic in the real estate world. Depending on which side of the coin you are on, you have a different opinion on the value of using a Realtor vs. FSBO. Let’s break down how using a Realtor vs. FSBO can influence the sale of your property.



  • Knowing the market and inventory allows a Realtor to price a home more accurately.
  • A FSBO usually prices a home too high due to lack of objectivity.



  • A Realtor has access to more buyers, which means more money.
  • A FSBO pays fees to get onto MLS and third party sites.



  • A Realtor is a trained professional that gets you the best price, terms and conditions and includes a home inspection and P&S, which saves you money in the end.
  • A FSBO is not a professional negotiator but still need to negotiate against a Buyer’s agent. Buyers may say “You are saving 5%, so I am going to deduct that from my offer”.



  • Time is money. Realtors show and sell the home while the seller does what they need to do and are much more experienced at prescreening “real” buyers.
  • A FSBO wastes a lot of time on non-serious buyers. They do not have as much time to show the home and buyers typically do not like to look at the home in front of the seller. For that reason, buyers and brokers may not give a seller real feedback.



  • A Realtor’s commission is tax deductible and they generally sell a home for 12% more than a FSBO.
  • FSBO’s usually end up spending more on lawyer’s fees and a buyer’s agent commission.


If you are considering selling your home, using a professional Realtor will make the process smoother, less stressful and more cost effective than doing it yourself!

Time to Winterize

New Englanders face a lovely challenge during this time of year. We begin to pack away our bathing suits and cuddle into our sweaters as the season changes our leaves beautiful orange and red colors and eventually fall off our trees.

Now, as favorite a season Fall may be, it is also a transitional time to ready our hearts, souls and homes for winter. What do we need to do before the first snow falls this year?

1. Put up storm windows and doors. Storm windows and doors provide insulation in these areas that are otherwise drafty. Window insulation film is a good alternative.

2. Improve your insulation. Check out that insulation that may be years old and make sure it hasn’t deteriorated. You can bulk up insulation by adding it to crawl spaces, unfinished attics and basements between the unfinished area and the living area to trap in heat.

3. Caulk around the windows. Air can easily escape through the windows (even when they are closed!) if there are cracks. Re-caulking ensures a sealant from the outdoors.

4. Make sure everything outside is secure. This means shutters, siding and even making sure shrubs are trimmed! If anything can get loose or easily break- it will be damaged easily with the snow and high winds that the winter brings.

5. Change your filters! Heating, ventilating and air- conditioner filters need to be changed for system to go on working properly.

Take your tips and get to winterizing!

Imagine…Lakeside Living.


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Located directly across from Wakefield’s beloved Lake Quannapowitt, with stunning year-round views,138 Main Street is for many reasons a wonderful place to call home. Its proximity to the lake and town common/center as well as Boston and Cambridge offers its new homeowner the best of both worlds. Residents of Wakefield appreciate its parks, Beebe Library, restaurants, shopping, and the lake’s boating, windsurfing, and fishing activities. Numerous commute/travel options to Boston and points north and west are just minutes from your door, providing access to nearby and regional recreational, cultural, educational, medical and business attractions/ institutions.

Your morning might start with coffee on your front patio, enjoying the scenic beauty of Lake Quannapowitt. Options abound for the day: hop in your car and head to Marketplace Lynnfield to shop and have lunch or take the train to the city to visit a museum, see a show, or cheer on your favorite sports team. Spend the evening entertaining family and friends on your expansive patio, enjoying the tranquil backyard setting. End the day with one more look at the lake from your master bedroom picture window. Enjoy superb quality of life at 138 Main Street.



Wakefield Common – 1 mile (south on Main Street, along the lake)

Lake Quannapowitt Yacht Club – 2 miles (directly across the lake from home)

The Middlesex Fells Conservation Area – 8 miles

Boston/Back Bay – 20 miles



Commuter Rail to North Station – 1.2 miles to Wakefield Station (Haverhill line – 24 minute ride)

Logan Airport – 17 miles

Major Roadway Access – I95/128 (Exit 40) leads north/east and west to I93

Distance Source: Google Maps (by car; approximate)

For more information, contact Laura McCaughey.

Homes as Opportunity Gateways – Wealth-X & Sotheby’s International Realty Luxury Real Estate Report

A growing number of ultra high net worth (UHNW) individuals view homes as ‘opportunity gateways’, driving buying decisions that are based on potential opportunities from owning these luxury residential properties, according to the latest study by Wealth-X and the Sotheby’s International Realty® brand.

The UHNW Luxury Real Estate Report: Homes As Opportunity Gateways two trends that are fueling the rise in the number of ultra wealthy individuals who are buying luxury homes:

  • International home-buying by UHNW individuals (defined as those with at least US $30 million in assets) from emerging nations seeking a safe investment diversification.
  • Home-buying as part of a program to gain citizenship or residency status in foreign nations.

The report provides insight into the UHNW residential real estate opportunities in Sydney and Vancouver for buyers seeking safe investment diversification; and Malta, the Bahamas and Sao Paulo, which may appeal to ultra wealthy buyers who are seeking citizenship or residency through property investment.

The UHNW Residential Real Estate index, tracked by Wealth-X, rose to 115.2 in Q2 2015, an 8.3% rise year-on-year, and the sixth consecutive quarter in which the index has risen. The continued rise in the index reflects the confidence of UHNW individuals to invest in luxury residential real estate.

The index takes into account the full range of luxury residential properties that are owned by the world’s wealthiest individuals. Wealth-X data shows there are 211,275 UHNW individuals globally, who collectively hold nearly US $3 trillion in real estate assets, equal to 10% of their net worth.

Below are other key findings from the report:

  • 12% of second homes purchased by UHNW individuals in emerging countries (those who reside in BRICS nations) are located outside their country of residence.
  • Recent market fluctuations in emerging nations are leading a new generation of UHNW investors to consider investing in luxury residential real estate in Western markets.
  • Chinese UHNW individuals make up the third largest share of foreign UHNW homeowners in the United States, behind only Canada and the United Kingdom.
  • Twenty nations in Europe and the Americas now offer citizenship or residency programs to individuals willing to invest in domestic residential real estate.
  • Many residential real estate markets with such programs – including Sao Paulo, Malta, and the Bahamas – offer good long-term investment opportunities.

Wealth-X President David Friedman commented: “Wealth-X is pleased to partner with the Sotheby’s International Realty brand for this third luxury real estate report for 2015. This new joint study explores the trends and home-buying motivations of a distinct group of ultra wealthy individuals in the emerging markets. As their wealth grows, so will their investment fueled by various motivations, be it to diversify their portfolio or to gain citizenship or residency in a foreign country.”

According to Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC, this joint report was designed to provide an understanding of the trends driving buying decisions of ultra high net worth individuals around the world. “The research reveals trends that go beyond traditional motivations and help guide real estate investments that contribute to long-term wealth,” he said. “It underscores the important role real estate plays in a larger strategy to build a valuable asset portfolio.”

View the report here.

Imagine – Lakeside Living

Imagine celebrating the 4th of July holiday lakeside…and from the comfort of your own backyard.

You can do just that at 16 Robinson Park in Winchester. Currently on the market for $3,500,000 featuring beautiful original woodwork, heated walkways, heated 2+ car garage, Chef’s kitchen with slate floor and Vermont custom cabinetry, radiant floors and walls of windows.

This home is quite special.

46-backyard 40-backyard
44-backyard 48-back

To get a better feel for this timeless home, watch the property video.

When in Rockport…

We relax! Every year, we take one day out of the summer months and congregate in Rockport for a summer celebration. The Spring market has been busy for everyone and it is important to take a step back and re-evaluate, and come together for some bonding! Just another thing we love about Waterfield Sotheby’s International Realty!

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Before and After – 4 Ward Street, Woburn

We love a remodel in the real estate world! A year ago, our company brought on 4 Ward Street in Woburn. 4 Ward Street boasted a spacious lot with possible subdivision ability and a separate carriage house on the land. The Queen Anne Colonial sitting on the lot needed some updates and renovations and now it is back on the market! Take a look at the before and after shots of this unique property.

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Factual Friday- Old Tavern turned Home

“Bricks in this fireplace are 190 years old. They were originally used in the Pollard Tavern, where George Washington slept.”

This quote was found plastered over the mantel at 43 Ravine Road, Medford, currently just listed with Laura McCaughey of  Waterfield Sotheby’s International Realty.

The Pollard Tavern was located on Great Road in Bedford, MA. On April 19, 1775, Bedford Militia and Minutemen mustered on the common, at homes and at taverns, including the Pollard Tavern. Many men marched to Concord that morning and saw action beside the Meriam farmhouse in Concord. Meriam’s Corner marked the beginning of the running battle between the growing ranks of local militia and minutemen companies and Lt. Col. Francis Smith’s 700 British troops as they attempted to return to Boston.

…Or as the story goes!

Whether or not George Washington really slept in what is now 43 Ravine Road, it is always interesting to see the history that our New England properties yield.

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Factual Friday – Historic Carter Mansion

Historic Carter Mansion- The Story

Selling real estate in the historic state of Massachusetts has a lot of perks, one of them being we get to learn- a lot! In March of 2014, Laura McCaughey (of WSIR) listed 89 Woburn Street in Reading with the claim to fame of being “The Carter Mansion”. Originally built in the 19th century this home presented a wealth of a historic background, which comes hand in hand with a lot of work to do for new buyers. Luckily enough, Catherine Albiani had the perfect buyers who had plans to renovate and refurbish the beautiful home. Now, a little over a year later our WSIR agents have teamed up to bring this sleek, modernized home from the 19th century to the market. But that is not where our story begins…

The residence was primarily owned by Daniel Chute, one of the first shoe manufacturers in Reading and the origin of “Chute St”. He purchased part of the Parker-Jaquith farm and built the Federal home that stands today. Daniel and his wife came to adopt Nancy Sanborn, daughter of Mrs. Chute and Reverend Sanborn. When Nancy married Samuel Carter, the property became theirs and otherwise known as the Carter property. Samuel Carter was in the express business and sent goods, mail and stage coaches to Boston. The property was passed down to generations and you can still see their name engraved on the front step!

With no expense spared, the Carter Mansion has been fully updated while retaining its period detail and character. Interested in what the buyers have done? Check out  the before and after photos below.
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