Scared Czech millionaires betting on real estate

Scared Czech millionaires betting on real estate

Published at: 2019-11-01 09:29 | Author: CIJEurope.com
Czech dollar millionaires are preparing for a crisis by buying construction land and buildings, according to the J&T Banka Wealth Report 2019. A full 35 percent of them believe the crisis will arrive within two years, while 20 percent are betting it will take three years to arrive. Six percent are guessing there will be no crisis at all. In all, the report spoke with 165 of the 30,000 Czech residents whose net worth is at least $1m. In addition to land, apartments and other buildings, alternative investments for these rich folks included foreign shares or corporate bonds. While many are interested in investments in IT and biotech, there's falling demand for investments in cryptocurrencies and start-ups. The average Czech millionaire is a 53 year old male, but the number of 40 year olds in the club rose 10 percent in the last year.

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