Knight Frank residential chief Andrew Hay says they go to places where there is a lot of family
Q. Where do the global rich invest in residential real estate?
Three years ago, there were seven favourite destinations, but there are just three now—New York, London and Dubai. The ones that are [no longer popular] are Hong Kong, Singapore, Geneva and Monaco. They were all strong destinations but, now, with cooling measures in place, they have all become unattractive.