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June 14, 2017 | 15:05 | Dubai
As part of their annual Wealth Migration Report, New World Wealth examined the top 2nd home hotspots for the wealthy worldwide.
There are currently around 522,000 multi-millionaires (individuals’ worth over US$10m+ each) in the world. Approximately 87% of these individuals own second homes.
• A “multi-millionaire” refers to an individual with wealth of US$10 million or more.
• Figures rounded to nearest 100 (in most cases).
• “Wealth” refers to the net assets of a person. It includes all their assets (property, cash, equities, business interests) less any liabilities.
• Figures refer to the end of 2015 vs. the end of 2016.
The most popular locations for these homes are ranked belowDubai, Miami, Palm Beach, Tel Aviv and Sydney all grew strongly in this regard over the past year. On the other hand, figures in London, Paris, Rio and Rome were all down. However, London tops the list with 19,500 multi-millionaires with second homes in the city (as of December 2016).
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