Forget gold and stocks – real estate in Manhattan, Vancouver and London is where the wealthiest citizens of the world are now choosing to invest their riches.
“The two greatest stores of wealth internationally today is contemporary art….. and I don’t mean that as a joke, I mean that as a serious asset class,” explained Larry Fink, creator of BlackRock Inc. “And two, the other store of wealth today is apartments in Manhattan, apartments in Vancouver, in London.”
As previously reported, the average sales price of an apartment in Manhattan is $1.73 million, with Rupert Murdoch’s Madison Avenue triplex taking the cake with a current asking price of $72 million.
Image via flickr/joiseyshowaa
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