Typically when asked, a real estate agent will state that the most important factors for buyers purchasing real estate are the proximity to schools and transport links.
Well, a recent survey* of high-net-worth individuals completely opposes such a view.
In fact, of 14 factors, proximity to schools and transport links were 14th and 12th respectively. Proximity to place of work is also well down the list, a factor which for such individuals matters increasingly less given the global nature of their work and the technology that enables this.
So what factors are important? The top three are the reputation of the area, security and design.
The 14 factors are listed below, with 1 being the most important and 14 the least.
1. Reputation of area
5. Proximity to local amenities
8. Proximity to family
10. Proximity to business/place of work
11. Proximity to waterfront
12. Transport links
13. Environmental sustainability
14. Proximity to schools.
* Citi Private Bank & Knight Franks Wealth Report 2010 Attitudes Survey