Altrata, the leading provider of intelligence on the wealthy and influential, today released Residential Real Estate 2023: Spotlight on the World’s Leading Markets for the Wealthy. This is second edition of this report, powered by Wealth-X data and sponsored by REALM, focusing on the residential footprint of ultra high net worth (UHNW) individuals – those with a net worth of at least $30 million.
The report takes a holistic view of an UHNW individual’s (often) multiple homes, not just their primary address. This footprint is significant because, even if only for days or weeks in a given year, any type of residential presence represents an opportunity for organizations that seek to connect and engage with the world’s wealthy.
Among the numerous findings Residential Real Estate 2023: Spotlight on the World’s Leading Markets for the Wealthy reveals:
- New York, Miami and London were the top cities for the wealthy to purchase a second home.
- The US dominates the list of the world’s top 20 cities by UHNW residential footprint including New York, Los Angeles, Miami, San Francisco, Chicago, Washington DC, and Boston.
- Aspen has by far the highest level of UHNW density in the US with one UHNW homeowner for every 67 residents.
- In Europe, London leads by total residential footprint with the number two spot and Paris comes in at 13th position.
- Asia has three cities in the global top 10, including Hong Kong, Beijing, and Singapore.
- Monaco has the world’s highest density of ultra wealthy homeowners, with one UHNW homeowner for every 39 residents