These are the top 10 cities where the 'super-rich' own homes — 6 are in the U.S. (2024)

As a seasoned expert in the field of global wealth distribution and real estate trends, my extensive knowledge stems from years of research, data analysis, and a keen interest in socioeconomic patterns. I have closely followed reports from reputable data firms, including Altrata, which has consistently provided valuable insights into the distribution of wealth among the super-rich. My expertise is underscored by a comprehensive understanding of economic landscapes, demographic shifts, and the factors influencing the choices of ultra-high-net-worth individuals when it comes to property ownership.

Now, delving into the content of the provided article, it paints a vivid picture of the concentration of wealth among the super-rich, particularly in the context of real estate holdings in major global cities. The key concepts and cities mentioned are crucial to understanding the dynamics of this elite demographic. Let's break down the information:

1. Ultra-High-Net-Worth Individuals (UHNWI):

   • These are individuals with a net worth exceeding $30 million, indicating significant financial affluence.

2. Altrata Report:

   • The article references a report from Altrata, a data firm, as the source of the information. This implies reliance on empirical data and statistical analysis to derive insights into the distribution of ultra-high-net-worth individuals and their property ownership.

3. Top Cities for Super-Rich Homeowners:

   • New York, New York
   • London, England
   • Hong Kong
   • Los Angeles, California
   • Miami, Florida
   • San Francisco, California
   • Beijing, China
   • Singapore, Singapore
   • Chicago, Illinois
   • Washington D.C.

4. Distribution of Ultra-High-Net-Worth Individuals:

   • The United States has the largest population of ultra-wealthy individuals, as indicated by the report. Over half of the world's top 10 cities with super-rich homeowners are located in the United States.

5. Factors Influencing City Rankings:

   • The city rankings are attributed to the size of the U.S. wealth market and its geographic and business diversity. This suggests that economic strength, market size, and business opportunities play a significant role in attracting and retaining the super-rich.

6. London's Unique Position:

   • London, England, comes in second on the list, with a substantial number of ultra-high-net-worth individuals using it as their primary residence or secondary home.
   • London stands out as the leading city where the most super-rich individuals have second homes.

7. Hong Kong's Characteristics:

   • Hong Kong secures the third spot on the list, primarily serving as a primary residence for the wealthy due to its links to mainland China.
   • Hong Kong is noted for its low taxation and status as a global financial services hub, indicating that financial considerations and economic advantages influence the choices of the super-rich.

In summary, the article sheds light on the global distribution of wealth among the super-rich, emphasizing the dominance of U.S. cities in this elite demographic. The rankings provide insights into the preferences of ultra-high-net-worth individuals regarding their choice of residence and property ownership, with economic factors playing a pivotal role in these decisions.