T
he number of individuals with a net worth of $30 million or more is expected to surge by 33% over the next five years, creating a growing demand for luxury homes. A recent report by Altrata and Mansion Global sheds light on where these ultra-high-net-worth individuals are living, buying second homes, and socializing.

    These affluent buyers own an average of three homes and have a global footprint that's expanding rapidly. New York City remains their top destination, with over 33,000 ultra-wealthy residents owning homes in the city. However, the report suggests that the reputation of wealthy NYC buyers may be waning due to economic uncertainty and political shifts.

    The US dominates the list of cities with the most ultra-high-net-worth individuals, with 15 American cities making the top 20. Miami has emerged as a popular destination for luxury second homes, surpassing New York in this category. The city's relatively small metro area boasts an impressive ratio of ultra-rich second-home owners to primary residents.

    Other notable enclaves for the wealthy include Monaco, which boasts the highest density of ultra-wealthy residents and second homeowners; Los Angeles and Hong Kong, with populations of upper-crust owners numbering close to 20,000 each; and Aspen, Colorado, where one in every 77 residents is worth more than $30 million.