The number of ultra-wealthy individuals — those with net worths of $30 million or more — is climbing at a rapid pace. As this population expands, distinct real estate patterns are emerging, with the ultra-rich gravitating toward specific global hubs.
Major cities such as New York, Los Angeles and Hong Kong remain top choices, offering a mix of financial opportunity, cultural influence and international connectivity. These markets continue to evolve, reinforcing their status as magnets for billionaire buyers.
At the same time, new hot spots are on the rise. From Miami and Dubai to Lisbon and coastal Mediterranean towns, the ultra-rich are seeking destinations that combine tax advantages, lifestyle appeal and long-term investment potential.
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Why New York and other global hubs remain favorites
Historic block of apartment buildings on 9th Street in the Greenwich Village neighborhood of Manhattan
In the past decade, the number of ultra-wealthy individuals has surged, according to Altrata’s World Ultra Wealth Report (PDF). Among the top 10 cities they call home, New York City continues to lead, with 21,380 ultra-wealthy residents — a 23.4% increase from 2024.
Hong Kong, Los Angeles, San Francisco and Chicago follow as the next most popular destinations, while Tokyo, London, Dallas, Washington, D.C., and Houston complete the top 10. Together, these cities account for one-fifth of the global ultra-rich population.
Their dominance stems from a powerful mix of finance, culture and connectivity. These global hubs offer unmatched opportunities, making them enduring favorites for the world’s wealthiest homeowners.
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The new hot spots rising fast
Sunny streets of Alfama, Lisbon, Portugal
New hot spots also draw the ultra-wealthy. Miami has emerged as both a primary and secondary home market, with Realtor.com ranking the Miami/Fort Lauderdale/West Palm Beach metro as the nation’s second top city for the ultra-wealthy in 2025.
While Miami’s cost of living is 11.5% above the national average, 43.8% of its residents own their homes outright, which is well above average when compared with other cities. Combined with a vibrant cultural scene, prime coastal location and Florida’s lack of state income tax, Miami remains a top draw.
Expats seeking tax-friendly destinations are also gravitating toward Dubai and Lisbon. Dubai’s high cost of living is offset by the United Arab Emirates’ zero income tax and a low 9% corporate tax rate, while Portugal offers generous exemptions on many types of foreign income for up to 10 years, making Lisbon a cost-saving haven for the wealthy.
Beyond these financial capitals, Florida’s coastal towns and Mediterranean cities increasingly appeal to second-home buyers looking to split their time between luxury lifestyles and idyllic climates.
What makes these cities magnets for the ultra-rich
Several factors are fueling these luxury real estate trends among billionaire buyers. Tax incentives, from favorable laws to strategic planning, help the ultra-rich reduce their overall burdens. Residency programs also make relocation easier, while political stability adds to the appeal of certain destinations.
Lifestyle is another powerful draw. Warm climates such as Florida’s, world-class golf courses, high-end shopping districts and vibrant cultural scenes all attract wealthy buyers seeking both comfort and prestige.
Luxury real estate is also viewed as a safeguard in uncertain times. Even during economic downturns, high-end properties tend to hold their value, making them a reliable investment and a hedge against inflation.
What’s next: The cities to watch
Mansions and hill top homes in Austin - West Lake
Cities such as Austin, Aspen and Naples are also becoming ultra-rich real estate destinations. According to the Altrata report, factors such as remote working trends, lifestyle appeal and the growth of emerging technology and finance hubs makes such cities appealing.
With the rise of remote work, the ultra-rich and the general public have more available real estate options. Rather than being tied to locations by a reasonable commute, individuals who work remotely can move almost anywhere with a reliable internet connection.
Private jets give the ultra-rich the freedom to buy homes wherever they choose, while global mobility programs — when companies relocate employees abroad for short- or long-term assignments — also shape where wealthy buyers settle.
Demand in Asia and the Middle East is shifting, according to the Altrata report. Regional conflict has slowed growth in the Middle East, with only moderate gains in both the number of ultra-wealthy individuals and their total net worth from 2024 to 2025.
Asia, by contrast, is expected to see the strongest growth in its ultra-wealthy population through 2030, fueled in part by the expanding Indian economy. The Middle East is projected to post the weakest growth in that same period, highlighting a clear shift in global wealth markets.
What it means for local markets
As new real estate hot spots emerge, rising demand is pushing up prices in prime neighborhoods. While higher costs aren’t a concern for the ultra-rich, they can make these areas inaccessible for other buyers. In many cases, an influx of wealthy residents accelerates gentrification, displacing long-term communities.
Higher property values also drive up tax bills. For existing homeowners — especially elderly residents on fixed incomes — steeper taxes can lead to delinquencies, foreclosures and ultimately, being forced out of their homes.
At the same time, shifting markets create opportunities for developers and brokers. By tailoring properties and services to meet the expectations of the ultra-rich, real estate professionals can tap into a lucrative and growing segment.
Following the money
The ultra-rich often act as trendsetters in global real estate, offering clues about where wealth and influence are headed next.
Their choices, shaped by economic opportunity, culture and lifestyle appeal, can signal which destinations are poised to become the next hot markets.
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