New York is the world’s most popular place for the super rich to own a property, according to a new report by data firm Altrata.
A total of 21,714 ultra-high-net-worth (UHNW) individuals — those worth over $30 million — own either a primary or secondary residence in the city, the study found.
Next up in the popularity stakes are London and Hong Kong, where 15,907 and 15,175 of the world’s richest people own homes.
The Top 10 Cities Where the Super-Rich Have Homes
Number of ultra-wealthy individuals owning properties in each city
Los Angeles and Miami round out the top five, while a propensity for the wealthy to snap up second homes in Beijing puts the Chinese capital one spot ahead of Singapore.
Those living in Monaco are the most likely to have very rich neighbors. One in every 39 UHNW individuals is either a primary resident of the city-state or the owner of a second home there.
In the US, the highest concentration of super-rich residents is in Aspen, where the figure is one in 67 — giving the Colorado mountain resort a UHNW population density almost 15 times greater than New York.
American cities dominate the list of the most popular places to own a home, taking a total of 14 of 20 spots. According to the report, that reflects the size of the country’s wealth market and its geographic and business diversity.
“These qualities offer considerable scope for wealthy individuals in search of a secondary home to stay in the country rather than look abroad,” the report said, and “mirrors a broader US trend over recent years of migration to smaller cities.”