Land ownership is, perhaps, the most ancient expression of wealth. Throughout history it has provoked conflict and inspired grandeur, from civic monuments and sacred spaces to egotistical towers and pleasure palaces. Today the relationship between land – or property – and wealth is more complex and more commercial than ever before. Since the economic crisis of 2008, real estate has attracted many of the world’s super-rich who have sought a safe haven, and a means of diversifying assets, and a very visual symbol of power and sophistication.

In 2008, $146bn of global private wealth was invested in the large-deal (above $10m) real estate market and by 2012 this had increased by 111 per cent to $308bn. Meanwhile, corporate investment in the same sector rose by only 43 per cent to $594bn over the same period. These figures, detailed in a new report by Savills in partnership with Wealth-X, a Singapore-based consultancy, reveal the increasing importance of private investment in the world of property.

“It’s a case of push and pull factors,” says Yolande Barnes, director of residential research at Savills. “I just saw a list of the top dealers [relating to deals made in 2013, compiled by Real Capital Analytics] on the buy side and the sell side. You look at the sellers and you’ve got JPMorgan, Lehman receivers, Deutsche, all the big bank names?.?.?.?and on the buyer side, the new big names are private Chinese companies and US Reits [real estate investment trusts].”