Wealth report: Average Czech dollar millionaire aged 53 and invests in real estate

Photo: Dani Simmonds / freeimages

The average age of Czech dollar millionaires is 53 and they regard investment in real estate as the most attractive form of investment, according to the latest annual Wealth Report released by the financial institution J&T Banka, quoted in Thursday’s edition of business daily Hospodářské noviny.

Photo: Dani Simmonds / freeimages
The satisfaction of affluent Czechs with the overall economic situation in the country has been increasing for the fifth consecutive year. According to one of the authors of the study, Jaroslav Cír from the research firm Perfect Crowd, the situation has never before been regarded so positively.

On the other hand, the wealthiest Czechs are very critical of the situation on the Czech political scene and regard corruption as one of the most burning issues.

They are also very critical towards the European Union, especially with regards to the migration crisis, which is regarded as a safety threat by 84 percent of them.

Over 40 percent of Czech dollar millionaires welcome the election of Donald Trump as US president. According to Jaroslav Cír, this is because they assess world events mainly in terms of their impact on the economic situation.

In terms of investment, some 38 percent of Czech dollar millionaires who took part in the survey said they regarded sites for construction as the most interesting form of investment. Some 33 percent rated investment in apartments and houses as the next best place to put their wealth, followed in the third place by investment into start-ups (27 percent).

On the contrary, the share of dollar billionaires investing in buying agricultural land and companies has dropped compared to the previous year.

Most Czech dollar millionaires, 86 percent, are men, although the share of women has increased by four percent on the previous year. Nearly 80 percent of the wealthiest Czechs have university education and over 40 percent of them have studied or worked abroad. When it comes to philanthropy, some 77 percent of Czech dollar millionaires said they contribute to charity.