As Per a Research New York City Has More Ultra-Rich Homeowners Compared to Other Cities

The fact that New York City is a wealthy city with oodles of luxury and swagger is no secret. This has now been proven through a research by from the financial information firm Wealth X and real estate platform REALM.

Luxury real estate in New York City is surely famous the world over and the range of luxury properties in New York is simply staggering. Some of the best high rise towers with some of the most luxurious apartments are in New York. The mindblowing luxury penthouses, luxury condominiums and luxury projects in New York are a testament to the prestigious lifestyle that this city leads.

The research of the two real estate entities suggests that New York City has the maximum number of Ultra high net worth individual homeowners having wealth of above USD 30 million. That is definitely some record to boast, surely.

The joint study, entitled “Spotlight on the World’s Leading Markets for the Wealthy: Residential Real Estate 2021,” is an attempt to find out where the world’s ultra-high-net-worth homeowners, or individuals worth $30 million or more, actually live. And the answer was clear: New York City. The two groups found that 24,660 members of this class had either a primary or secondary residence in the Big Apple as of December 2020.

That figure makes New York the world leader by a wide margin, according to the report. In second place was Los Angeles, which is home to 16,295 such individuals. London ( with14,485 ultra-high-net-worth residents), Hong Kong (14,235) and Paris (7,035) rounded out the top five.

Why include secondary homes, you may be asking. Wealth X and REALM say the decision to count both allowed for a more “holistic view” of the “residential footprint” of the ultra-rich. The report found that most secondary residences are located in the global cities of the “West,” with London leading the pack. Of the ultra-high-net-worth individuals who call the Big Apple home, only 47 percent have their primary residence in the city.

“The largest regional economy in the U.S. ranks first, both for the number of ultra-high-net-worth individuals by primary residence and second-homers,” according to the report. “This reflects New York’s status as a global center for finance and commerce that offers a rich blend of cultural and luxury lifestyle opportunities, high-quality education and prime real estate.”

Luxury real estate and a flair for all things luxury make New York City a hub for the most ultra-high-net-worth individuals with wealth above the USD 30 million mark. However the strongest density of mega-rich individuals is found in the ultra rich Monaco, where one in 29 Monaco resident qualifies for the same. The next in line for a concentration of mega rich individuals is one of America’s favourite ski towns, Aspen. Of course Luxury real estate in Monaco as well luxury real estate in Aspen are globally famous and craved for too.