New research revealed by one of the UK’s largest property investment companies has found that the majority of property investors were from the IT and Telecoms industry.
In a survey taken by 450 high net-worth individuals (HNWI’s) from different sectors across the globe, 59% of participants said they invest in property and 23% work in the tech industry.
In contrast, those said to be unlikely to invest in the property were from the Art and Culture industry.
Traditionally you would expect those from the finance industry to be the most likely invest into property. However, who the technology industry, which is seen to be the fastest-growing industry and one that has disrupted many sectors making ‘old school’ jobs instinct has topped the list.
Andy Foote, Director at SevenCapital comments: “The easy correlation would be that property, requiring a higher initial investment but that over the long-term has the potential to deliver the highest, stable yield, maybe more quickly accessible to the industries that are doing well financially.
“However, maybe there’s a closer correlation between fast-growing, disrupter industries identifying with the need for a tried and tested foundation, recognising the importance and somewhat solidity of a traditionally and arguable more stable investment.
“On the other hand, given the tech industry’s natural stance as a leader of innovation, certainly in recent years proving the power technology offers to move and improve other industries, are those in this industry ahead of the game with future trends?
“Whilst we’ve seen increased nervousness around property investment over recent years due to various tax changes and, for some cases, the uncertainty of Brexit, could it be that those working on transforming the industry through tech advancements have more confidence in how the market will perform in the future? It’s certainly an interesting concept.”
The survey from the property investment company was carried out by 450 HNWIs – with their earnings above £100,000