21 Places Where Rich People Are Buying the Most Real Estate
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.
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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%
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2. Dubai, United Arab Emirates
Change in luxury real estate prices: 15.9%
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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%
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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%
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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%
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