The importance of property

A recently released report by global real estate firm Knight Frank and Citi Private Bank highlights the important part that property plays in the lives of the wealthy.

The report looks at the property habits of those who have fortunes of more than $100 million and found that these wealthy individuals have 35% of their wealth in property.

After their own business they see property as their most important investment and are currently more likely to invest in property than any other asset class.

Reasons for investing

When considering your investment be sure that you understand your reasons for purchasing an investment property.

Remember that you are investing to secure your financial independance, which means you want to create a passive income and build equity.

Many people try to pick the market cycle but never actually buy anything because it is not the "right time".

It's important to plan for the future and not get so caught up in the process that you could end up failing to act.

It's extremely important to get moving and do something as the cost of doing nothing can be very expensive.

The ideal time to buy is when it is right for your individual circumstances and when the opportunity presents itself.

Once a decision is made, act quickly and with confidence.

The second half of this year will bring many opportunities ; the question is, is it the right time for you?