Which 3 places do the world’s wealthiest people like to call ‘home’?
- The city state of Singapore is one of the favoured places of the elite ... but which place tops a new report?
With their private jets and multiple houses, the world’s mega-rich are the ultimate globetrotters.
Yet about half of this elite population have their main residences within a group of just 10 cities, according to Knight Frank’s 2019 Wealth Report, which lists London, Tokyo and Singapore as homes to the most people worth of at least US$30 million.
Although the United States is the world’s largest economy, New York is its only city in the property brokerage’s top 10.
The data highlights the concentration of the ultra-wealthy living in the biggest metropolises.
Business opportunities, lifestyle desires, hospitals and transport infrastructure are all factors that draw the super-rich to buy homes in large cities.
That’s especially true with London – Britain’s political and financial centre, and the world’s top wealth hub – where foreign property buyers have faced criticism for pushing up prices.
London has a unique proposition. There’s no other city that compares as a global hub for so many different sectors
London’s richest include members of the billionaire Rausing family, who own the packaging company Tetra Laval, and Chelsea neighbourhood landowner Charles Cadogan.
“London has a unique proposition,” Liam Bailey, Knight Frank’s global head of residential research, said. “There’s no other city that compares as a global hub for so many different sectors.”