A majority of high-net-worth individuals — but fewer than last year — are actively looking to expand their real estate portfolios.
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According to the Forbes Research 2025 High Net Worth Survey, the wealthy may be cooling on real estate this year.
Seventy-one percent of high-net-worth individuals (HNWIs) reported they are actively seek opportunities to expand their real estate portfolio, considering additional luxury properties for investment or personal use. But that’s down from 87% who said the same in 2024.
Our survey polled 250 people globally with over $2 million in investable assets between April and May.
Ahead, explore the top factors influencing HNWIs’ real estate investment decisions.
What Makes A Second Property Appealing To HNWIs?
The data shows that a primary draw for HNWIs when they purchase a new residential property is enhancing their lifestyle. What are their preferences for second homes?
- 74% say proximity to exclusive amenities (such as private clubs, high-end retail and fine dining) is a top consideration.
- 70% look for environmentally friendly features such as sustainable design and architecture.
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A Split In Property Diversification Strategy
While HNWIs remain committed to investing in real estate, their foundational belief in its role for long-term financial success has softened. The percentage of HNWIs who completely agree that diversifying their holdings with high-end properties is a key factor in achieving long-term financial success has declined from 35% in 2024 to 21% in 2025.
The ultra-wealthy (those with assets over $30 million) remain more committed to real estate as part of their financial strategy. When looking at responses by level of wealth, 31% completely agree that high-end property diversification is key to long-term financial success, a stark contrast to just 8% of their less affluent peers ($2 million to $4.9 million) who said the same.