According to the recently released Hurun report 2011, Real Estate is an increasingly important component of the investment portfolios of China’s wealthiest citizens – property now accounts for over 30% of HNWI (Individuals with assets over USD$1.5 million) investment portfolios.
According to the report, 20% of China’s 969,000 HNWI’s made their fortunes through real estate investments and two thirds currently own a second home, an increase of 30% from 2009. Most of these homes are located in Sanya, Hainan Province.
Stocks account for 25% of HNWI’s investment portfolios and an increasing number also prefer art and private equity investments. As the number of wealthy citizens increases 9.7% in 2010 – So does their wealth. According to the Huron Report poll, 60,000 of China’s HNWI’s now have assets over USD$15.4 million.