Luxury Real Estate in a Changing UHNW Landscape: UHNW Insights Meets Marc Sandreschi

As we’re all very much aware, working for the interests of UHNW individuals requires much more than mere knowledge; it calls for insight, a degree of foresight and the ability to stay on top of the various developments, shifts and trends that wield no shortage of influence. 

It also often calls for access to proven expertise and knowing where to turn when deeper understanding is required, or when light needs to be shone on any number of subject matters pertaining to the latest developments in the UHNW realm. This is a key reason behind the creation of the UHNW Insights Coterie – a close and trusted network of colleagues, partners, friends, experts and insiders – and why, time after time, such networks prove themselves invaluable to those seeking to make a real and lasting difference in their industry. 

Trust as Currency: The Dynamics of UHNW Real Estate and Beyond

The world of ultra-luxury international real estate is one which touches upon a multitude of areas of interest to many of those serving an ultra wealthy clientele. Far from being merely about bricks and mortar properties, it’s an area in which consideration must be paid to everything from geopolitics to shifts in asset management, and from legacy creation to generational shifts and attitudes to wealth itself. 

Before diving into various topics pertaining to luxury real estate, Sandreschi wished to focus on many of the undeniable bedrocks upon which so much of the ultra wealthy industry is built; namely how in the UHNW world, trust remains among the most significant currencies. It’s a topic close to our hearts at UHNW Insights, as trusted networks, coteries and introductions remain key to so many of our aspirations, strategies and successes. Sandreschi expands upon this notion, explaining in depth how trust is built and the role such networks play in its creation and maintenance. 

“In the UHNW world, trust is not claimed but inherited, observed and tested over time. It is built less through titles or platforms than through consistent behavior, sound judgment under ambiguity, and absolute discretion. 

Introductions remain essential as gateways, but they are no longer guarantees; their value depends entirely on who makes them and the reputational risk they assume in doing so. Informal networks now outweigh formal structures, as trust is forged in repeated, low-key interactions rather than transactional settings. Alignment of values, time horizons, and risk perception matters more than persuasion. 

Ultimately, trust circulates at one remove: what truly counts is not what someone thinks of you, but what trusted peers say about you when you are not in the room.”

Trust and discretion go hand in hand, and discretion has never been more essential or non-negotiable for the UHNW. Indeed, there’s a broad perception that, especially over the last decade or so, that ‘true wealth’ has become significantly quieter, almost to the point of fading from public view. When asked about this topic, Sandreschi was clear in his perspective on the matter. 

“True wealth has not disappeared, but it has become more selective in how and where it is expressed. Over the past decade, visibility has increasingly been associated with risk, noise, and volatility, prompting many UHNW individuals to move out of public view rather than retreat from influence or activity.

Discretion today is not about secrecy for its own sake, but about control of exposure, narrative, and counterparties. What appears quieter is often more structured, more intentional and more protected. Wealth has not become passive or invisible; it has simply shifted into private channels, trusted circles and environments where alignment matters more than recognition.”

It certainly takes an insider view or an expert with real longevity in the industry to be able to detect many of the more subtle shifts, changes and trends dictating the nature of wealth in 2026 and beyond. The past decade has, without doubt, been a turbulent and unpredictable one in many, many ways, meaning that the concerns and worries of affluent clients today are really quite distinct to those affecting decisions in 2016 or earlier. 

In Sandreschi’s view, UHNW individuals today are less concerned about wealth creation and considerably more focused on its durability. As he explains: 

“Compared to ten years ago, concerns have shifted toward geopolitical instability, regulatory unpredictability, and the erosion of private property rights across jurisdictions. 

There is heightened sensitivity to reputational exposure, data visibility, and forced transparency, as well as to the fragility of cross-border structures once considered stable. Legacy is no longer viewed only in financial terms but in terms of continuity, governance, and the ability to transmit assets without conflict or dilution of intent. Many now focus on control, succession clarity and resilience against systemic shocks, rather than on growth alone.”

Here at UHNW Insights, we’re consistently interested in how a new generation of ultra-wealthy individuals are making the UHNW sphere their own. There’s little doubt that much of what Sandreschi is referring to regarding the past decade is being influenced by millennial elites, and that a generational shift in the perception and utilization of wealth is beginning to make its presence known. 

For Sandreschi and as witnessed in his clientele, younger generations (primarily millennials and an emerging Gen-Z population) tend to view wealth quite differently from their parents’ and forebears’ generations. For them, it’s less of a status symbol and far more of a tool for autonomy, flexibility and impact. Sandreschi expands upon this point to say: 

“Ownership is often valued for access and optionality rather than permanence, and there is greater comfort with mobility, shared use and non-traditional assets. Transparency, purpose, and alignment with personal values play a stronger role in decision-making, alongside a heightened awareness of reputational and societal consequences. 

While capital preservation remains important, wealth is increasingly deployed to support lifestyle coherence, long-term resilience, and selective engagement rather than accumulation for its own sake.”

So, onto real estate and the movement of UHNW clients across international borders. Marc Sandreschi is well-versed in such subjects, having built a career assisting his clientele in international opportunities and seeking out solutions for those looking to make the most of what the world has to offer. 

Across his professional life, Sandreschi has had plenty of visibility on his clients relocating and diversifying their lives around the globe. As such, he’s well-placed to pick up on patterns and trends influencing this aspect of UHNW movements and yet he’s keen to express that there’s no ‘one size fits all’ approach and little point in making broad generalizations. However, certain clear tendencies are coming across, as he explains in detail.

“Clients are no longer relocating purely for tax or lifestyle arbitrage, but to build optionality and resilience across jurisdictions. Many are diversifying their lives rather than replacing one base with another, combining primary residences, secondary hubs, and flexible mobility. 

There is a strong focus on political stability, personal safety, education continuity, and healthcare quality, often ahead of pure financial optimization. Decision-making is more deliberate, involving longer timelines and deeper due diligence. What stands out most is a shift from opportunistic moves to strategic life architecture, where geography becomes a tool for balance, protection, and long-term continuity rather than a simple change of scenery.”

This all begs the question: are wealthy buyers choosing homes or rather new ecosystems in which growth, stability and security can flourish, and which countries are attracting global elites beyond mere tax narratives? 

“Beyond tax narratives, UHNW individuals continue to gravitate toward countries and locations that offer a rare combination of political stability, legal predictability, personal safety, quality healthcare, and cultural openness. What attracts them today is not a single advantage but the coherence of the whole environment. Buyers are increasingly selecting places that support mobility, education, lifestyle, and long-term security rather than isolated fiscal benefits. 

As a result, today’s UHNW buyers are less focused on acquiring a home in the traditional sense and more on embedding themselves within an ecosystem — one that includes trusted institutions, international connectivity, discreet services, and a sense of continuity for family and legacy. The property becomes a gateway into that ecosystem, not the end goal in itself.”

When discussing such topics, specifics matter. In Sandreschi’s view, certain countries and destinations have maintained their allure for the UHNW across the past decade, while others have risen in prominence due to an array of different factors that have increased their suitability and desirability for ultra-wealthy clients seeking properties or places to settle. 

“Among the destinations that consistently stand out are Switzerland for its institutional stability and long-term wealth protection culture, Singapore for its rule of law, financial sophistication and gateway position in Asia, Portugal for its safety, lifestyle quality and balanced access to Europe without excessive exposure. 

There’s also the UAE, particularly Dubai and Abu Dhabi, for their infrastructure, global connectivity and pro-business environment.”

Nothing exists outside of context, and when exploring the movement of affluent individuals and their wealth across the globe, it’s impossible not to consider a gamut of socioeconomic and geopolitical factors that add considerable weight to various decisions. This has been especially relevant in recent years, where political and social instability even in countries once considered unquestionably stable has arisen with surprising velocity and impact. 

That such factors have influenced UHNW behavior worldwide is not to be taken lightly; indeed, the impact of certain shifts and developments is perhaps yet to have fully manifested, and yet the signs of profound change are already present in how the wealthy are behaving and where they are moving. 

“Developments over the past two decades, including in places such as the United States and UK (Brexit), have challenged long-held assumptions around institutional continuity, social cohesion, and policy predictability. As a result, holding more than one passport is no longer about convenience or tax planning, but about optionality and risk management. 

Multiple citizenships provide mobility during periods of disruption, access to alternative legal systems, and the ability to protect family, assets, and personal freedoms if conditions deteriorate in any single jurisdiction. In this context, nationality itself has become a strategic asset, serving as insurance against uncertainty rather than a reflection of identity alone.”

Moving on from the macro to the micro, and from the global to the deeply personal. Selecting an exceptional property anywhere in the world comes down to a wide variety of important factors. Many of these fit into the category of ‘intangibles’; those often difficult-to-pin-down matters of cultural capital, the types of neighbors one has or doesn’t have, privacy and room for growth and personalization. 

In the world of luxury real estate, being able to not only anticipate such desires but also understand how they work in a wider context is key. Sandreschi, with his considerable experience and insight into these matters, has a wide-reaching understanding of what separates the wonderful from the simply pricey when it comes to the high-end property market. 

“What separates a genuinely exceptional property from one that is merely expensive is not price, scale or finishes, but context and scarcity. Exceptional properties possess elements that cannot be replicated or engineered over time: location integrity, long-term privacy, controlled surroundings, and a sense of permanence. 

Intangibles play a decisive role in UHNW decisions, often outweighing technical specifications. Neighbors matter because they shape discretion and social alignment. Privacy matters because it preserves freedom of movement and peace of mind, and cultural capital matters because it anchors the property within a broader narrative of place, heritage and legitimacy. 

Value is driven less by what can be added to a property than by what already exists around it, and what will remain unchanged.”