Altrata Residential Real Estate Report 2025: Top 3 Global Cities for UHNWs are New York 33,222, Los Angeles 19,781 & Hong Kong 19,439, Global Wealth Population 483,500 UHNW, 4.5 Million VHNW & 38.9 Million HNW, Top 10 Global Cities for UHNWs with Primary Residence or Secondary Home are New York, Los Angeles, Hong Kong, Miami, London, San Francisco, Chicago, Singapore, Washington DC & Boston
4th September | Hong Kong
Altrata has released the Altrata Residential Real Estate Report 2025, providing key insights into UHNWs (< $30 million) primary residence & secondary home globally. UHNW Population (> $30 million) – 483,500. VHNW Population ($5 m to $30 million) – 4.5 million. HNW Population ($1 m to $5 million) – 38.9 million. Top Global City for UHNWs with Primary Residence or Secondary Home – New York 33,222 UHNWs. Top City in Europe for UHNWs with Primary Residence or Secondary Home – London 15,695 UHNWs. Top City in Asia for UHNWs with Primary Residence or Secondary Home – Hong Kong 19,439 UHNWs. Top 3 Global Cities for UHNWs with Primary Residence or Secondary Home – New York 33,222, Los Angeles 19,781, Hong Kong 19,439. Top 10 Global Cities for UHNWs with Primary Residence or Secondary Home – New York, Los Angeles, Hong Kong, Miami, London, San Francisco, Chicago, Singapore, Washington DC, Boston. Top 5 United States Cities for UHNWs with Secondary Home – Miami, New York, Los Angeles, San Francisco, Naples (Florida). Top 5 Global Cities (ex-United States) for UHNWs with Secondary Home – London, Beijing, Hong Kong, Singapore, Geneva. Top United States City by UHNW Density – Aspen 77 residents per 1 UHNW. Top Global City (ex-United States) City by UHNW Density – Monaco 22 residents per 1 UHNW. Geneva by UHNW Density – 225 residents per 1 UHNW. Zurich by UHNW Density – 439 residents per 1 UHNW. Hong Kong by UHNW Density – 388 residents per 1 UHNW. Singapore by UHNW Density – 666 residents per 1 UHNW. London by UHNW Density – 809 residents per 1 UHNW. See below for key findings & summary | View report here
“ Altrata Residential Real Estate Report 2025: Top 3 Global Cities for UHNWs are New York 33,222, Los Angeles 19,781 & Hong Kong 19,439, Global Wealth Population 483,500 UHNW, 4.5 Million VHNW & 38.9 Million HNW, Top 10 Global Cities for UHNWs with Primary Residence or Secondary Home are New York, Los Angeles, Hong Kong, Miami, London, San Francisco, Chicago, Singapore, Washington DC & Boston “
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Altrata Residential Real Estate Report 2025: Top 3 Global Cities for UHNWs are New York 33,222, Los Angeles 19,781 & Hong Kong 19,439, Global Wealth Population 483,500 UHNW, 4.5 Million VHNW & 38.9 Million HNW, Top 10 Global Cities for UHNWs with Primary Residence or Secondary Home are New York, Los Angeles, Hong Kong, Miami, London, San Francisco, Chicago, Singapore, Washington DC & Boston
Altrata has released the Altrata Residential Real Estate Report 2025, providing key insights into UHNWs (< $30 million) primary residence & secondary home globally. See below for key findings & summary | View report here
Altrata Residential Real Estate Report 2025
Notes:
- Primary resident – Individual is termed a ‘primary resident’ of a city if the property they own privately (not via a company) is where they spend most of their time over the course of the year. This city, more often than not, is also where their primary business is based.
- Secondary-home owner – Individual who owns a second property (or more) in addition to their primary residence. This ownership is held privately, not via a company they own.
- Ultra high net worth (UHNW) individuals – Net worth of $30 m+
Summary
- UHNW Population (> $30 million) – 483,500
- VHNW Population ($5 m to $30 million) – 4.5 million
- HNW Population ($1 m to $5 million) – 38.9 million
- Top Global City for UHNWs with Primary Residence or Secondary Home – New York 33,222 UHNWs
- Top City in Europe for UHNWs with Primary Residence or Secondary Home – London 15,695 UHNWs
- Top City in Asia for UHNWs with Primary Residence or Secondary Home – Hong Kong 19,439 UHNWs
- Top 3 Global Cities for UHNWs with Primary Residence or Secondary Home – New York 33,222, Los Angeles 19,781, Hong Kong 19,439
- Top 10 Global Cities for UHNWs with Primary Residence or Secondary Home – New York, Los Angeles, Hong Kong, Miami, London, San Francisco, Chicago, Singapore, Washington DC, Boston
- Top 5 United States Cities for UHNWs with Secondary Home – Miami, New York, Los Angeles, San Francisco, Naples (Florida)
- Top 5 Global Cities (ex-United States) for UHNWs with Secondary Home – London, Beijing, Hong Kong, Singapore, Geneva
- Top United States City by UHNW Density – Aspen 77 residents per 1 UHNW
- Top Global City (ex-United States) City by UHNW Density – Monaco 22 residents per 1 UHNW
- Geneva by UHNW Density – 225 residents per 1 UHNW
- Zurich by UHNW Density – 439 residents per 1 UHNW
- Hong Kong by UHNW Density – 388 residents per 1 UHNW
- Singapore by UHNW Density – 666 residents per 1 UHNW
- London by UHNW Density – 809 residents per 1 UHNW
Altrata Residential Real Estate Report 2025
1) Global HNW Population
2024 Global Wealth Population:
- UHNW > $30 million – 483,500
- VHNW $5 m to $30 million – 4.5 million
- HNW $1 m to $5 million – 38.9 million
VHNW ~ Very high net worth
2030 Global Wealth Population Forecast:
- UHNW > $30 million- 654,900
- VHNW $5 m to $30 million – 6.2 million
- HNW $1 m to $5 million – 53.4 million
2) Top Cities for UHNWs
Top 20 Global Cities for UHNWs with Primary Residence or Secondary Home:
- New York – 33,222
- Los Angeles – 19,781
- Hong Kong – 19,439
- Miami – 17,457
- London – 15,695
- San Francisco – 14,341
- Chicago – 9,463
- Singapore – 9,061
- Washington DC – 8,872
- Boston – 8,633
- Dallas – 7,958
- Beijing – 7,794
- San Jose – 7,469
- Houston – 7,257
- Paris – 7,159
- Seattle – 6,836
- Atlanta – 5,786
- Philadelphia – 5,621
- Phoenix – 4,900
- Denver – 4,678
Top 10 United States Cities for UHNWs with Secondary Home:
- Miami – 13,211
- New York – 12,813
- Los Angeles – 8,640
- San Francisco – 6,477
- Naples (Florida) – 4,213
- Boston – 3,167
- San Jose – 2,824
- Greenwich (Connecticut) – 2,732
- Washington DC – 2,699
- Chicago – 2,295
Top 10 Global Cities (ex-United States) for UHNWs with Secondary Home:
- London – 9,221
- Beijing – 5,468
- Hong Kong – 4,939
- Singapore – 4,256
- Geneva – 1,745
- Munich – 1,686
- Milan – 1,650
- Paris – 1,643
- Zurich – 1,354
- Dubai – 1,288
*Monaco – 1,630 (Country, not city, thus not in ranking above)
3) Top Cities with Most UHNWs per Resident
Top 7 United States Cities by UHNW Density (No. residents per UHNW primary resident or secondary-home owner):
- Aspen – 77
- Naples (Florida) – 93
- Greenwich (Connecticut) – 259
- San Jose – 262
- San Francisco – 321
- Miami – 358
- Salt Lake City – 408
Top 7 Global Cities (ex-United States) Cities by UHNW Density (No. residents per UHNW primary resident or secondary-home owner):
- Monaco – 22
- Geneva – 225
- Hong Kong – 388
- Zurich – 439
- Basel – 482
- Singapore – 666
- London – 809
4) Featured Locations – The Hamptons, Maui, Provence, Aspen, Abu Dhabi, Lisbon
A) The Hamptons (Long Island, New York, United States):
- Above age 50 – 96%
- Primary industry in banking & finance – 39%
- Interest in art or aviation – 20%
Located 80 miles from New York City, the Hamptons has long been an exclusive haven for wealthy and affluent families, particularly those in the US with primary residences in Manhattan and the surrounding area. With an enticing mix of pristine beaches, sophisticated art and social scenes, and discreet luxury amenities in a laid-back community atmosphere, the area’s prime real estate is among the costliest in the US.
B) Maui (Hawaii, United States):
- Self-made – 88%
- Primary industry in tech – 11%
- Interest in art or aviation – 33%
Stunning scenery and a reputation for privacy are among the most appealing features of Maui, the second-largest and most expensive island for real estate in Hawaii. A further benefit is the investment potential from the tightly restricted supply of secluded luxury properties and exclusive branded residences
C) Provence (France):
- Top 3 countries by primary residence of second-home owners – France, UK & Russia
- Source of wealth from both self-created & inherited fortunes – 31%
- Female – 21%
The Provence region of south-eastern France provides a hugely diverse selection of luxury second- home locations and properties, ranging from rural chateaux in tranquil Provençal villages to lavish beachside villas on the French Riviera.
D) Aspen (United States)
- UHNWs with Primary Residence or Secondary Home – 1,030
- Top 3 origin (primary residence) for secondary home owners – United States, Canada & Hong Kong
Gender:
- Male – 74%
- Female – 26%
Age:
- Below Age 50 – 2%
- Age 50 to 70 – 40%
- Age 70 above – 58%
Source of Wealth:
- Self-made – 66%
- Inherited / Self-made – 23%
- Fully inherited – 11%
Top 7 Primary Industries:
- Banking & Finance – 28%
- Non-Profit & Social Organizations – 25%
- Real Estate – 18%
- Business & Consumer Services – 11%
- Hospitality & Entertainment – 4%
Top 5 Interests / Hobbies:
- Sports
- Art
- Aviation
- Philanthropy
- Politics
E) Abu Dhabi (UAE)
- UHNWs with Primary Residence or Secondary Home – 1,100+
- Top 2 origin (primary residence) for secondary home owners – UK & Hong Kong
- Jet owners – 19%
- Yacht owners – 4%
Gender:
- Male – 93%
- Female – 7%
Age:
- Below Age 50 – 16%
- Age 50 to 70 – 61%
- Age 70 above – 23%
Source of Wealth:
- Self-made – 54%
- Inherited / Self-made – 41%
- Fully inherited – 5%
Top 5 Primary Industries:
- Banking & Finance – 25%
- Industrial Conglomerates – 20%
- Non-Profit & Social Organizations – 12%
- Construction & Engineering – 12%
- Business & Consumer Services – 8%
Top 5 Interests / Hobbies:
- Sports
- Technology
- Education
- Travel
- Philanthropy
F) Lisbon (Portugal)
- UHNWs with Primary Residence or Secondary Home – 600+
- Top 3 origin (primary residence) for secondary home owners – Spain, UK & United States
Gender:
- Male – 82%
- Female – 18%
Age:
- Below Age 50 – 15%
- Age 50 to 70 – 60%
- Age 70 above – 25%
Source of Wealth:
- Self-made –70%
- Inherited / Self-made – 27%
- Fully inherited – 3%
Top 7 Primary Industries:
- Banking & Finance – 22%
- Retail – 19%
- Hospitality & Entertainment – 14%
- Textiles, Apparel & Luxury Goods – 11%
- Industrial Conglomerates – 10%
Top 5 Interests / Hobbies:
- Sports
- Travel
- Vehicles
- Boating
- Philanthropy
Altrata Residential Real Estate Report 2025
Methodology – This report leverages two of Altrata’s unique products: the Wealth-X Database, the world’s most extensive collection of curated research and intelligence on the wealthy, and RelSci’s Relationship Mapping Database. Since the previous edition was published in 2023, there have been significant changes across the global wealth map and the luxury real estate sector. In addition, Altrata’s data assets continue to expand in number, coverage and depth. The Wealth-X Database is now significantly larger by number of wealthy individuals and we have undertaken a full update to our Wealth and Investable Assets Model. As a result, the data in this report is not directly comparable with previously published numbers. We use two steps to calculate the number of wealthy individuals in each city by residential presence: counting those with a ‘primary residence’ and those with ‘secondary homes’ equating to the ‘total footprint’). Primary residence is determined by whether the property is owned privately (not via a company) and it is where the owner spends most of their time over the course of the year. Invariably, the city of primary residence is, more often than not, also where the property owner’s primary business is based. A secondary home is determined by whether the property is owned in addition to a primary residence by the same person. Again, this ownership is held privately. First, to size the wealthy population by primary residence at the city level, we use our proprietary Wealth and Investable Assets Model. The model uses residency as the determinant of an individual’s location. This model produces statistically significant estimates for the size of the population by level of wealth and investable assets for the world’s 200 major cities as ranked by nominal GDP in $. These cities are defined on the basis of urban agglomerations (UAs) and metropolitan (metro) areas, which include the built-up areas outside the administrative core. We find that metro and urban areas are closer to self-contained entities compared with city administrative cores (city proper) because more residents are likely to work and spend within the metro/UA boundaries. We focus on metro areas to ensure comparability because globally comparable city-level data is not available. For a very small number of US cities (such as Aspen), we have used city-proper level data because such data was not available at the metropolitan level. Second, to size the number of wealthy individuals with secondary homes, we use the Wealth-X Database. For this exercise, all known residences of the wealthy are counted, including those in a different location to their primary residence. This sample is then used to extrapolate from our model estimates of counts by city, to arrive at the residential second-home footprint. The database is also used to profile the ultra wealthy in greater depth. The Wealth-X Database provides insights into the wealthy’s financial profile, career history, known associates, affiliations, family background, education, philanthropic endeavors, passions, hobbies, interests and much more. Our proprietary valuation model (as defined by net worth) assesses all asset holdings, including privately and publicly held businesses and investable assets. The database uses the primary business address as the determinant of a wealthy individual’s location. References to $ or dollars refer to US dollars.
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