{"id":26434,"date":"2016-09-16T18:08:09","date_gmt":"2016-09-16T11:08:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/usd3-9-trillion-in-global-wealth-to-be-transferred-in-next-10-years\/"},"modified":"2016-09-18T14:19:54","modified_gmt":"2016-09-18T07:19:54","slug":"usd3-9-trillion-in-global-wealth-to-be-transferred-in-next-10-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/usd3-9-trillion-in-global-wealth-to-be-transferred-in-next-10-years\/","title":{"rendered":"USD3.9 trillion in global wealth to be transferred in next 10 years"},"content":{"rendered":"


\nBut things could get complicated, especially in APAC
\nnevodka\/Shutterstock
\nMore than 14,000 ultra-high-net-worth individuals (UHNWIs) will be passing down their wealth in the next 10 years, data from Wealth-X and NFP\u2019s \u201cPreparing for Tomorrow: A Report on Family Wealth Transfer\u201d showed. This means that USD3.9 trillion or 13 percent of all UHNWI assets will change hands worldwide\u2014enough money to buy the 10 largest companies today.
\nWhile UHNWIs who are set to transfer their wealth have average holdings of USD16 million in real estate and other luxury assets, such riches may not be transferred easily, said David Barks, associate director of custom research at Wealth-X. \u201cMuch like private businesses, the complexity of transferring property to the next generation comes from the illiquidity and indivisibility of this asset class, as well as the associated potential tax liabilities.\u201d
\nLocal and foreign policies can also hamper the transfer of property acquired in other countries. In addition, owners tend to place sentimental value on property, making a sale or transfer especially difficult.
\nMore: Revealed: Asia is the world\u2019s fastest-growing region for billionaires
\nThis could spell potential complications for UHNWIs in Asia-Pacific, who have the highest proportion of their wealth in property. This demographic is estimated to have kept 12 percent of their net worth in real estate and other luxury assets, compared with 5 percent for UHNWIs in other regions.
\nWealth-X noted that private holdings still make up the largest proportion of the portfolios of UHNWIs set to transfer their wealth. Private holdings account for 36 percent of their net worth or an average of almost USD100 million per person.
\nSixty-six percent of UHNWIs mulling a transfer of their assets are self-made, meaning it will mark the first time this wealth is being passed down to the next generation. \u201cAs primary businesses make up a very large proportion of these individuals wealth, the ownership and control of significant businesses across the world and especially in North America may look very different in the next 10 years,\u201d Barks said.
\nRead next: Meet the world\u2019s richest tycoons in real estate
\n
\nSource : property-report.com
\nRead more…USD3.9 trillion in global wealth to be transferred in next 10 years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

But things could get complicated, especially in APAC nevodka\/Shutterstock More than 14,000 ultra-high-net-worth individuals (UHNWIs)...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-26434","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6Sm","jetpack-related-posts":[{"id":27721,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-things-we-learnt-from-the-world-ultra-wealth-report\/","url_meta":{"origin":26434,"position":0},"title":"5 things we learnt from the World Ultra Wealth Report","date":"September 29, 2016","format":false,"excerpt":"\r Asia-Pacific riches are growing faster than ever 123dartist\/Shutterstock Wealth-X has just released the fourth and latest edition of its World Ultra Wealth Report, and the exceptionally well-to-do in Asia and the Pacific are outgunning their peers in other regions. There are now about 212,615 ultra high net worth (UHNW)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30990,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-will-billionaires-pass-on-wealth-to-their-kids\/","url_meta":{"origin":26434,"position":1},"title":"How will billionaires pass on wealth to their kids?","date":"October 20, 2016","format":false,"excerpt":"\r Being heir to a fortune isn\u2019t as easy as it sounds MOAimage\/Shutterstock Along with the bombastic growth of billionaires around the world comes the herculean task of passing down such wealth to the next generation. 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Despite that growth,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46069,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-a-magnet-for-the-worlds-wealthy-says-knight-frank\/","url_meta":{"origin":26434,"position":5},"title":"Dubai a magnet for the world's wealthy, says Knight Frank","date":"March 2, 2017","format":false,"excerpt":"\r Knight Frank's 2017 Wealth Report has ranked Dubai fourth in the world on its list of cities with the biggest inflow of high net-worth individuals (HNWIs). 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