The ultra-wealthy are increasingly trading their mansions for luxury motorhomes costing around £2m, according to a Financial Times report. One private equity owner sold two homes to buy a 30-tonne vehicle with air conditioning, high-speed internet, a kitchen, dining room, two bathrooms, and a spacious master bedroom.
Despite the vehicles' mobility, owners often park them for months in exclusive communities like Motorcoach Country Club, where they buy permanent plots with pools, patios, barbecue areas, fire pits, and small chalets. This lifestyle resembles a high-end caravan park, baffling observers who note the wealthy could instead holiday at luxury resorts.
This trend parallels a broader shift among the rich towards renting rather than buying property. In the US, the number of ultra-high-net-worth renters tripled between 2019 and 2023, while in the UK, Sir John Griffin, founder of Addison Lee, listed his home for £75,000 a month. Real estate brokers cite a desire for flexibility and liquidity, avoiding taxes, insurance, and natural disaster risks.
Experts suggest the super-rich are hedging against an unpredictable world, using their wealth to maintain the ability to flee at a moment's notice. As one broker noted, they are 'choosing flexibility and liquidity over ownership' in an era of increasing catastrophes.
