For those who want to peer into the real estate thinking of ultra-high net worth individuals (UHNWIs), Knight Frank's "Wealth Report" is right up their alley.
UHNWIs are defined as people with a net worth of U.S. $30 million or more, including their primary residence. There were 24,821 in Canada in 2022, up 87.4% since 2017.
The number of high-net-worth Canadians with $1+ million net worth, including their primary residence, totalled 3,072,771 last year. Surging home values helped that number grow 87.1% since 2017 versus 42.5% worldwide.
Here's what else the 2023 "Wealth Report" found, with mortgage implications near the end:
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