new york city sky shot
Source: Canva
  • American cities dominate the top 20 ranked cities for ultra high net worth individual housing
  • San Francisco and San Jose posts a high density of very high net worth individuals
  • Top five for UHNW include NYC, LA, London, Hong Kong, and Paris

So the old African proverb goes “Choose your neighbours before you buy your house”; choose New York, and you’ll be in excellent company.

With almost 25,000 ultra high net worth individuals calling New York home, a report recently released by Wealth-X and REALM ranked the world’s cities by how many ultra-wealthy choose to call a place home.

Ultra high net worth was been defined as a net worth of over US $30M, very high net worth between $5M and $30M.

The report found traditional strongholds of LA, London, Hong Kong and Paris kept their place higher on the list, with the top 20 dominated by American cities.

Other Asian cities make an appearance further down the list, Singapore being the first Asian city, ranked 9 overall, followed by Beijing (12), and Shen Zhen (19).

The impact of COVID, and what home means, and what a quality life looks like has changed substantially.

Founder and CEO of REALM, Julie Faupel, said that “HNW and UHNW consumers prioritized peace of mind and safety over formerly prized shared experiences.”

Preferences for the ultra-wealth are changing with the times, Founder and CEO of The Agency, Mauricio Umansky said “Those who previously lived close to work moved further away to avoid denser areas and the wealthy buyer quickly sought to invest in sub markets for both primary and secondary residences. Demand was unprecedented, inventory was extremely limited, and the essence of home became paramount.”

The top 20 cities by total UHNW footprint (number of UHNW individuals with a primary or secondary home in this location, and rank):

  1. New York City, 24,660
  2. Los Angeles 16,295
  3. London 14,485
  4. Hong Kong 14,235
  5. Paris, 7,035
  6. San Francisco, 6,740
  7. Chicago, 6,085
  8. Miami, 5,615
  9. Singapore, 5,250
  10. Washington DC, 4,905
  11. Dallas, 4,890
  12. Beijing, 4,480
  13. Houston, 4,435
  14. Geneva, 3,705
  15. Zurich, 3,295
  16. Toronto, 3,080
  17. Naples, 3,035
  18. Greenwich, 2,910
  19. Shenzhen, 2,830
  20. San Jose, 2,790

You May Also Like

Perth Design Week 2024’s program launches today, featuring expanded program and international collaboration

Perth Design Week 2024 unveils expanded program, featuring over 80 diverse events spanning exhibitions, talks, and installations.

Perth Design Week 2024: Perth’s best architects prove that smaller homes are in vogue

Perth Design Week 2024’s week-long itinerary of events, exhibitions and experiences promises a vibrant celebration of design excellence.

Top Australian downsizing locations revealed

Property Credit’s report reveals 12 locations across NSW, Queensland and Tasmania replete with opportunities for downsizers.

Revitalising urban jungles: University expert weighs in on why green spaces are the ultimate urban upgrade

Planning policies, funding disparities, and land constraints have exacerbated inequities in green space access in Australia.

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Rentvesting in Australia: A deep dive

Rentvesting offers an alternative path into the property market for priced-out first-time buyers.

Housing crisis survival guide: How to buy your first Australian property

Three property experts give the low down on how to nab a home in this tough housing market.