 "Holiday planning. Image: iStock")
Holiday planning. Image: iStock
In a world where wealth is increasingly concentrated among the super-rich, holiday homes have become a status symbol for centi-millionaires—individuals with liquid investable wealth of $100 million or more. The allure of owning multiple properties in prime locations continues to drive ultra-high-net-worth individuals to seek investment opportunities abroad.
A recent report by New World Wealth and consultancy firm Henley and Partners shows that Miami, The Hamptons, and Liguria (Italy) emerge as top destinations for these affluent individuals.
The report highlights the top 22 cities, islands, and regions where these affluent individuals are choosing to invest in seasonal residences.
Top Destinations for centi-Millionaires
Miami, USA
With over 650 centi-millionaires, Miami stands out as the leading city for the super-rich. The vibrant culture, sunny weather, and luxurious lifestyle attract both residents and second-home owners, with a growth forecast of 164% in centi-millionaire numbers from 2024 to 2040.
The Hamptons, USA
Known for its exclusive beaches and upscale living, The Hamptons boasts around 600 centi-millionaires. This region is expected to see a modest growth of 25% in the coming years.
Liguria, Italy
The picturesque Liguria region is home to over 550 centi-millionaires. Its stunning coastline and charming villages make it a desirable retreat, with a growth forecast of 84%.
Nice to Eze, France
This glamorous stretch of the French Riviera attracts around 500 centi-millionaires, with a growth forecast of 95%, making it a prime location for luxury holiday homes.
Palm Beach and West Palm Beach, USA
With 400 centi-millionaires, this Florida hotspot is known for its opulent estates and beautiful beaches. The area is projected to grow by 69% in centi-millionaire residents.
Costa del Sol, Spain
The sunny Costa del Sol region is home to 300 centi-millionaires, drawn by its warm climate and luxurious lifestyle, with a growth forecast of 60%.
The Algarve, Portugal
With 250 centi-millionaires, The Algarve offers stunning coastlines and a relaxed lifestyle, expected to grow by 48% in the next decade.
Cannes, France
Famous for its film festival, Cannes attracts 200 centi-millionaires, with a growth forecast of 28%.
Mykonos, Greece
This idyllic island is home to 200 centi-millionaires, known for its vibrant nightlife and beautiful beaches, with a growth forecast of 22%.
Jackson Hole, USA
A favorite of the wealthy for its stunning natural beauty and outdoor activities, Jackson Hole has around 200 centi-millionaires, with a growth forecast of 15% over the next decade.
Park City, USA
Renowned for its ski resorts and outdoor lifestyle, Park City is home to 200 centi-millionaires, with a projected growth of 12%.
Aspen, USA
Another popular ski destination, Aspen attracts 200 centi-millionaires, with a modest growth forecast of 10%.
Cape Town, South Africa
With its breathtaking landscapes and vibrant culture, Cape Town has 150 centi-millionaires, expected to grow by 28%.
Boca Raton, USA
Known for its upscale living and beautiful beaches, Boca Raton is home to 150 centi-millionaires, with a growth forecast of 30%.
Naples, USA
This luxurious Florida destination has 150 centi-millionaires, with a projected growth of 27%.
Lake Como, Italy
Famous for its stunning lakeside villas, Lake Como is home to over 100 centi-millionaires, with a growth forecast of 20%.
Rio, Brazil
Known for its vibrant culture and beautiful beaches, Rio has 100 centi-millionaires, with a growth forecast of 36%.
Fort Lauderdale, USA
With its extensive waterways and luxury homes, Fort Lauderdale has 100 centi-millionaires, expected to grow by 25%.
Pebble Beach and Carmel-by-the-Sea, USA
This picturesque coastal area is home to 100 centi-millionaires, with a growth forecast of 30%.
Creta, Greece
Known for its rich history and beautiful landscapes, Crete has 100 centi-millionaires, with a growth forecast of 20%.
Marrakech, Morocco
This exotic destination attracts 100 centi-millionaires, with a growth forecast of 12%.
Bodrum, Türkiye
Key trends:
Strong US Presence: The United States dominates the top 10 list with six locations, including The Hamptons, Palm Beach, West Palm Beach, Jackson Hole, Park City, and Aspen.
European Appeal: Liguria (Italy), Nice to Eze (France), Costa del Sol (Spain), The Algarve (Portugal), Cannes (France), Mykonos (Greece), Lake Como (Italy), and Bodrum (Türkiye) are popular European destinations for centi-millionaires.
Wealth Growth Potential: Several locations, including Miami, The Hamptons, Liguria, Nice to Eze, and Palm Beach, are expected to experience significant wealth growth in the coming years.
First Published: Sep 23 2024 | 3:01 PM IST
