Urban Living Remains a Top Choice for High Net Worth Individuals (HNWIs)
According to the latest report on European lifestyle by Knight Frank, a staggering 83% of High Net Worth Individuals (HNWIs) prefer to settle in urban areas. This trend is primarily driven by the economic and cultural prospects offered by large cities, reinforcing their appeal to the ultra-rich.
The study, which surveyed 700 HNWIs across 11 countries, reveals that metropolises like Paris, Berlin, and Barcelona are becoming top destinations for these individuals. The quality of life, economic stability, and cultural richness of these cities are the primary deciding factors. On the other hand, cities like London, which were once popular among HNWIs, are losing ground due to less favorable tax policies and geopolitical volatility.
In 2024, over 128,000 millionaires are expected to relocate globally, a figure that is increasing compared to the previous year. These moves are taking place in a context where the wealthy are seeking to maximize their human capital while benefiting from the security and discretion offered by certain urban areas. This also reflects a growing interest in cities that combine economic dynamism with high quality of life.
This preference for urban centers shows no signs of slowing down, solidifying the role of these cities as hubs of attraction for great fortunes.
