According to a recent report by data company Altrata, New York is the city where the most super-rich people choose to buy real estate.
A total of 21,714 ultra-rich people – those with a net worth of over $30 million – own a primary or secondary property in the city, the report found.
There are 21,714 people with net assets over 30 million USD choosing New York as their primary residence or owning a second home here (Photo: Bloomberg).
Next are London (UK) and Hong Kong (China). According to Altrata's report, 15,907 super-rich people choose to buy houses in the UK capital, while 15,175 super-rich people choose to buy houses in Hong Kong.
Two American cities, Los Angeles and Miami, also made the top five for the super-rich to buy homes, while Beijing’s second-home buying trend put the Chinese capital ahead of Singapore.
Monaco's neighbors are likely to be super-rich. Altrata's report found that one in 39 super-rich people either reside in the principality or own a second home there.
In the US, Aspen has the highest concentration of ultra-rich residents, with one in every 67 ultra-rich people in the world living in Aspen. That makes the Colorado mountain resort 15 times more densely populated than New York.
US cities also dominate the list of popular cities for the ultra-wealthy to buy homes, accounting for 14 of the 20. That reflects the size of the country’s property market as well as the country’s geographic and business diversity, according to the report.
"These factors significantly attract the ultra-rich to look for a second home instead of going abroad," the report said, adding that this also reflects the trend of migration to smaller cities in the US that has become increasingly popular in recent years.
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