American millionaires hold less wealth in real estate than European and Asian investors

A new report from Savillis says American millionaires hold only seven percent of their wealth in real estate while Asian and European millionaires hold four times that amount. The report defined millionaires as having $30 million or more.

The American rich have more of their wealth in financial investments and stocks than their global peers, Paul Tostevin,  of Savillis world research team, told CNBC.

“I think in the U.S. there’s more integration with the investment culture, and use of the stock market is more advanced,” he said. “So real estate is a smaller share.”

The average value of property held by North American multimillionaires—at slightly more than $500,000—is less than a third of the value of properties held by the rich in Europe or Asia.

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