Millennials go beyond London, New York for luxury realty shopping

Young HNIs are buying properties in foreign locations like Malta, Madrid, and Budapest

Luxury real estate developers may have seen a slowdown in recent years, but that doesn’t mean big spenders aren’t shelling out for prime property — except that they are doing it overseas. According to reports, while the usual suspects such as London remain the top choice for billionaire buyers like Flock CEO Bhavin Turakhia or actress Alia Bhatt, a newer crop of millennials prefers assets in markets that offer higher rental yields. Such locations include Spain, Portugal, and Malta, among others.

Amit Goyal, CEO of Sotheby’s International Realty in India, says, “Millennials are much more mobile than their parents and grandparents