High net worth investors are increasingly turning to bricks and mortar to allocate capital, with Japan and its residential housing sector emerging as a favoured destination.
The demand from both older and newer generations of (U)HNWIs are spurring a development in private asset offerings for single and multifamily offices.
Investment into real estate from rich Asians has trebled since 2007, far outpacing flows from other regions, according to Savills and Wealth-X.
A quarter of Hong Kong's ultra-high-net-worth population is over 70, pointing to a major transfer of wealth in the next 15-20 years, according to Wealth-X's profile of the city's super-rich.
Indians, Indonesians, Malaysians and Thais seem more content about their life-wealth balance than Hong Kongers, Singaporeans and South Koreans.