Altrata, a leading provider of intelligence on the wealthy and influential, has announced the recent release of its report, Residential Real Estate 2023: Spotlight on the World’s Leading Markets for the Wealthy. This is the second edition of the 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.
According to a release, the report takes a holistic view of an UHNW individual’s 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, Altrata stated.
Among the numerous findings Residential Real Estate 2023: Spotlight on the World’s Leading Markets for the Wealthy reveals include:
- New York, Miami and London were the top cities for the wealthy to purchase a second home.
- The U.S. dominates the list of the world’s top 20 cities by UHNW residential footprint including New York, Los Angeles, Miami, San Francisco, Chicago, Washington D.C., 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.
According to the company, relationships continue to be an important element to selling luxury goods, including real estate, but understanding the trends and leveraging data is critical for companies trying to make the most of their connections to the wealthy.
“As we emerge from years riddled with uncertainty around a historic pandemic, social unrest, political discourse, and natural disasters, regardless of your age or demographic, luxury has made a monumental shift in the minds of the global population,” said Julie Faupel, founder and CEO of REALM. “We are excited to partner with Altrata for a second time to examine how this shift is influencing how and where the world’s wealthiest individuals choose to reside.”
Access the complete findings and download the report, here: Residential Real Estate 2023: Spotlight on the World’s Leading Markets for the Wealthy.
To learn more, go to Altrata or realm-global.com.