Millionaires See Real Estate as Top Investment for 2014

U.S. millionaires see real estate as the top alternative-asset class to own this year, according to Morgan Stanley.

About 77 percent of investors with at least $1 million in assets own real estate, according to a survey released today by the New York-based investment bank’s wealth-management unit. Direct ownership of residential and commercial properties was the No. 1 alternative-investment pick for 2014, with a third of millionaires surveyed saying they plan to buy this year. Twenty-three percent said they expect to invest in real estate investment trusts, the second-most popular choice.

Wealthy investors are turning to a rebounding real estate market as fixed-income yields remain historically low and equities surge. U.S. commercial-property values rose 8 percent in the 12 months ended Jan. 31, and have jumped 71 percent since hitting their post-recession bottom in 2009, research firm Green Street Advisors Inc. reported today. The S&P/Case-Shiller index of home prices in 20 cities is up 24 percent from its 2012 low.   (read more —>)

courtesy of:  http://www.bloomberg.com/news/

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2 thoughts on “Millionaires See Real Estate as Top Investment for 2014

  1. Pingback: SAN DIEGO MEDIAN CONDO PRICES BY ZIP CODE, FEB 2014 | San Diego with RealtorPeg

  2. Pingback: SAN DIEGO MEDIAN HOUSE PRICES BY ZIP CODE, FEB 2014 | San Diego with RealtorPeg

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