New York Metropolis has the very best focus of house owners price $ 30 million or extra
Almost 25,000 high net worth individuals live in New York City.
New York City is the global epicenter for the richest homeowners, according to a report from financial information and insight company WealthX and real estate platform REALM.
As of December 2020, there were nearly 25,000 high net worth individuals – defined as those with a net worth of $ 30 million or more – who had primary or secondary residence in the Big Apple.
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“The largest regional economy in the US ranks first, both in terms of the number of wealthy individuals by primary residence and second homes,” the report said. “This reflects New York’s status as a global center for finance and commerce, offering a rich mix of cultural and luxury lifestyle opportunities, quality education and world-class real estate.”
Of the 24,660 high net worth individuals who call New York home, a small majority, 53%, have a second or additional home in town and no primary residence.
The data in the report does not compare to previous numbers published by the company, so no changes in population over time were available.
Los Angeles came in second with a cohort of 16,295 high net worth individuals, two-thirds of whom are second home owners, the report said.
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In third place was London, a city with 14,485 wealthy residents. Of the top 20 hubs for affluent residents, the British capital has the largest proportion of second home owners at 68.5%.
Hong Kong and Paris rounded off the top 5 with 14,235 and 7,035 wealthy residents, respectively.
Over the past year, the lines between primary and secondary homes of the wealthy have blurred, the report said.
“The pandemic has created the best market for second and even third homes in the luxury real estate market,” said Joanne Nemerovski, luxury real estate advisor at Compass in Chicago, in the report. “No matter how impressive their primary residence is, this group of wealthy people are used to travel and have a hard time staying. Diversity is the spice of life. “
This story originally appeared on Mansion Global.