Homebuyers with super-wealth love NYC, London, and Hong Kong

There are many luxury homes around the globe, but some cities have more luxury properties and homebuyers with the funds to buy them. These areas offer agents the unique opportunity to capitalize upon the luxury markets.
Altrata, sponsored by REALM has published a report to help luxury agents zoom into the most profitable areas of the business and focus their attention in the cities with the highest potential luxury buyers.
“Residential real estate 2023: Spotlight On the World’s Leading Markets For the Wealthy” is based on Wealth-X analysis of its data, which covers 4,000,000 of the world’s wealthiest people from over 175 nations. The global insights from REALM’s members, consisting of elite realty professionals from over 100 brands, 40 states, and 12 countries, make the report some of the most comprehensive observations in the industry,” stated Julie Faupel, founder of REALM.
Where are the luxury buyers?
These are the top 20 markets you should focus on if you have a client worth more than $30,000,000
New York, NY
London, England
Hong Kong, China
Los Angeles, Calif.
San Francisco, Calif.
Chicago, Illinois.
Washington, D.C
San Jose, Calif.
Paris, France
Dallas, Texas
Houston, Texas
Seattle, Washington
Toronto, Canada
Atlanta, GA
Denver, CO
Phoenix, Ariz.
This list is dominated by U.S. cities, which makes it convenient for domestically-based luxury agents and their teams. UHNW homebuyers continue to be attracted to cities because of their accessibility to transportation and proximity to commercial and business interests.
New York is the first place city and has 22,000 UHNW residents.
Beijing has taken Singapore’s place among the top 10 international cities. The luxury market in Beijin has been steadily growing for some time.
Similar results were seen in the luxury market for second homes and vacation homes among UHNW buyers as for primary residences. But, Naples, Florida is a very popular destination for luxury vacation homes. Your clients may be looking for second homes or vacation getaways in Naples, Florida.
These cities offer real estate agents the opportunity to narrow their focus and highlight their luxury holdings for UHNW clients. Are you interested in learning more about luxury properties and working in the area?

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