Elite individuals are purchasing second residences in numerous cities beyond New York and London in 2025.
Top 20 Cities for Ultra-Wealthy Second Homes in 2025
London, outside the United States, remains the premier city for ultra-wealthy individuals to purchase second homes, with 9,221 individuals, according to recent reports based on wealth intelligence data. However, Miami has risen to the top globally, with 12,813 ultra-wealthy individuals buying second homes there in 2025.
The list of the top 20 cities worldwide where ultra-wealthy individuals (with net worth over $30 million) are most likely to purchase second homes includes a mix of traditional luxury hubs and emerging hotspots. Miami tops the list due to tax advantages, lifestyle, climate, and international access. New York, Los Angeles, and London follow closely, with strong positions as sought-after locations for UHNW second homes.
Beijing, Hong Kong, Singapore, Dubai, Naples (Florida), Boston, San Francisco, San Jose, Greenwich (Connecticut), Washington D.C., Chicago, Lisbon (Portugal), Monaco, St. Tropez (France), Cannes (France), Zurich (Switzerland), and Geneva are also on the list. These cities offer a combination of investment potential, quality of life, financial appeal, and luxury lifestyle.
For today's ultra-wealthy, luxury is defined by freedom of movement, intergenerational wealth planning, and institutional-level security. A second home is often used as a multifunctional asset for lifestyle, wealth protection, and geopolitical flexibility. Wealthy individuals are viewing second, third, and even fourth homes as a secure store of value, particularly in regions with favorable tax regulations or residency permits through investments.
The report by Altrata lists the 20 most important cities where ultra-wealthy individuals will acquire second homes by 2025. Naples, Florida has a 95% second home ownership rate among its ultra-high-net-worth population. Lisbon is gaining popularity among American buyers, ranking 23rd worldwide for UHNW second homes, due to its cosmopolitan culture, relative affordability, and real estate-supported Golden Visa program until October 2023.
London remains the most important international city for second homes among ultra-wealthy individuals, ranking third worldwide, despite higher taxes and stricter regulations in the UK. The Portuguese government has discontinued the Golden Visa program to ease pressure on the local housing market.
In conclusion, the ultra-wealthy 2025 preferences reflect shifting trends towards lifestyle, tax strategy, and geographic mobility balanced with traditional centers of finance and luxury. The ability to operate across time zones, languages, and legal systems is a basic prerequisite for today's globally connected elite. In today's volatile world, additional properties are increasingly being considered as part of a portfolio strategy. Luxury today is 'Time - for oneself, for loved ones, for a good life', according to Marco Tirelli, founder of Tirelli & Partners. Aspen, Colorado has one of the world's highest concentrations of ultra-wealthy individuals, with one ultra-wealthy resident for every 77 inhabitants.
- Overwhelmed by the list, one might ask, "What about investing in real-estate in cities like Beijing, Hong Kong, Singapore, Dubai, or Geneva for a second home?"
- Traveling to different regions for lifestyle and wealth protection, some might consider Naples (Florida), Lisbon (Portugal), or even St. Tropez (France) for their second homes.
- For those seeking financial appeal and luxury lifestyle, the ultra-wealthy are also considering cities like New York, Los Angeles, or Zurich for their second home investments.
