The recession is over. Or is it? It seems that numerous headlines from newspapers, magazines and television news are all claiming different things. Some say that there is light at the end of the tunnel whilst others proclaim that the darkness is set to stay around for a while longer. High net worth individuals are back in full force and as we approach Christmas, spending sprees of cars, homes and luxury items are on the rise. And as we watch the market slowly rise, many are hoping that this is the end of a very low dip Wikipedia .
Bentley, one of the leading luxury car manufacturers announced earlier this week that they are going ahead and producing their Mulsanne model that will be available in the UK summer and this will definitely appeal to individuals who fall into the high net worth bracket. Bentley feels extremely confident with this decision and claim that the demand for this super exclusive car is high. They added that orders are streaming in as many high net worth individuals order their new motor vehicle for the summer season.
London’s elite are not only spending their cash on cars, but also forking out on luxurious London property, exquisite jewellery and one of a kind art pieces. Even yacht sales are up again. London houses are not being left behind as spending rises and there have recently been a number of homes being sold for above £10 million. Even though people are still hesitant, high net worth clients included, home sales are still being made and the numbers of homes sold are expected to increase.
The jewellery market is also recovering slowly but surely and wealthy people are spending thousands of pounds on gold and silver pieces as the year comes to a close.
It seems that this economic slump has not affected the high net worth individuals as much as many have expected. Researchers say that even though the ultra high net worth individuals have lost more percentage wise, they still have a large amount of funds, and the loss of additional funds have not made a big impact on their lifestyle.