Where the Affluent Own
SECONDARY HOMES GLOBALLY HNW consumers rarely own just one property. Among individuals with net worth of $5 million+, Wealth-X data shows that nearly 14% of all global wealth is put toward real estate and other luxury assets, indicating a high number of secondary homes and vacation properties are likely in the mix. In fact, according to a recent Coldwell Banker Global Luxury survey of affluent international buyers, 84% of respondents said they own residential real estate outside of their home country. These countries include Italy (90%), Turkey (87%), Costa Rica (87%), the U.K. (86%), France
(85%), the U.A.E. (84%), Spain (84%), and Canada (83%). Where will those properties be located, and more importantly, how do those lists compare to the secondaryhome hotspots of 2021? Here’s what we found. When the U.S. is included, New York once again takes the crown for the most HNW secondary-home owners globally. Four other U.S. cities earned a place on the list, including Los Angeles, Miami, San Francisco, and Washington, D.C., for a total of 290,000 secondary-home owners – more than all of international cities combined, from Beijing to Geneva. New York alone is home to more than 95,000.
