WASHINGTON — Washington, D.C. makes the top 10 on a new review of the luxury real estate market by Wealth X, Warburg Realty and Barnes International Realty.
The Global Property Handbook studied the buying habits of the world’s wealthiest people, and says London, New York and Tokyo are the most popular for ultrahigh net worth individuals — those defined as having a net worth of $30 million or more.
The report also says that about 10 percent of ultrahigh net worth individuals own at least five properties.
London ranks no. 1 for what the report calls its unmatched appeal to the wealthy, from culture to financial security, despite recent tax reforms.
New York was a very close second in the report, with the largest ultrawealthy population and scores of top-class universities.
As for Tokyo, the report cites its reputation as a luxury shopping destination and the wealth center of Asia. Sydney ranks behind Tokyo. The report says Sydney has a lifestyle like no other, with beaches, sunshine, culture, commerce and a property market that maintains value.
At no. 5 on this list is Paris, a haven for culture, entertainment, shopping and finance. The City of Light is a magnet to the wealthy property buyer.
D.C. tied Toronto at no. 9 on the list.
Top 10 real estate cities for the world’s ultrarich:
1. London
2. New York
3. Tokyo
4. Sydney
5. Paris
6. Chicago (tie)
6. San Francisco (tie)
6. Osaka Japan (tie)
9. Toronto (tie)
9. Washington, D.C. (tie)
