21 Places Where Rich People Are Buying the Most Real Estate

Gabrielle Olya

12 June 2024 at 12:00 pm·3-min read

You might think of cities like New York and London when you think of hubs for the ultra-rich, and while this is true, there are many other places around the world where the extremely wealthy are buying up luxury properties.

Check Out: I’m a Real Estate Investor: 10 Places I Would Never Buy Property

To get insights into where the rich are buying real estate, GOBankingRates turned to the Knight Frank Prime International Residential Index, which tracks movements in luxury prices across the world’s top residential markets. Here’s a look at where luxury prices have increased the most over the past year, an indication that more wealthy people are flocking to these locales.

1. Manila, Philippines

Change in luxury real estate prices: 26.3%

See More: Barbara Corcoran: 3 Cities To Invest In Real Estate Now Before Prices Skyrocket

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2. Dubai, United Arab Emirates

Change in luxury real estate prices: 15.9%

Watch Out: Don’t Buy a House in These 3 Cities Facing a ‘Climate Change Real Estate Bubble’

3. Bahamas

Change in luxury real estate prices: 15%

4. Algarve, Portugal

Change in luxury real estate prices: 12.3%

4. Cape Town, South Africa

Change in luxury real estate prices: 12.3%

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6. Athens, Greece

Change in luxury real estate prices: 12%

6. Ibiza, Spain

Change in luxury real estate prices: 12%

8. Mumbai, India

Change in luxury real estate prices: 10%

Learn More: 6 Reasons the Poor Stay Poor and Middle Class Doesn’t Become Wealthy

9. Shanghai

Change in luxury real estate prices: 8.6%

10. Mustique

Change in luxury real estate prices: 8%

10. St. Barts

Change in luxury real estate prices: 8%

12. Cyprus

Change in luxury real estate prices: 7.4%

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13. Marbella, Spain

Change in luxury real estate prices: 7.2%

14. Mallorca, Spain

Change in luxury real estate prices: 7%

15. Vancouver, Canada

Change in luxury real estate prices: 6.7%

16. Miami

Change in luxury real estate prices: 6.5%

17. Madrid

Change in luxury real estate prices: 6.4%

18. Lake Como, Italy

Change in luxury real estate prices: 6.2%

18. Seoul, South Korea

Change in luxury real estate prices: 6.2%

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20. Mexico City

Change in luxury real estate prices: 6%

nicolamargaret / Getty Images/iStockphoto

20. Val-d’Isère, France

Change in luxury real estate prices: 6%

Data is sourced from Knight Frank’s Prime International Residential Index and is accurate as of March 5, 2024.

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This article originally appeared on GOBankingRates.com: 21 Places Where Rich People Are Buying the Most Real Estate

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