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Paris ranks first in the index of the top cities for the very wealthy

BARNES

23/01/2020

Paris ranks first in the index of the top cities for the very wealthy, ahead of New York, Tokyo, Los Angeles and Hong Kong

The surprise outcome of the annual BARNES survey of the top cities for the world’s greatest fortunes. Despite the strikes and the ‘gilets jaunes’ crisis, Paris became last year’s top city for international clients when it comes to property investment, ahead of New York, Tokyo, Los Angeles and Hong Kong.

Paris, its constant protests and traffic... Yes. But Paris is also the world's number one tourist destination and a choice hub for international investors. And now Paris is the number one property market for the world’s greatest fortunes.

That is the main point to take away from the Global Property Handbook 2020, the annual BARNES survey of luxury international real estate. The luxury real estate network analyses a very specific segment of individuals and families every year: HNWI* and UHNWI** for “High-Net-Worth Individuals” and “Ultra High-Net-Worth Individuals”. In order to be eligible for one of these two categories, you need a fortune of one and thirty million dollars (or more).

In terms of the world’s population, these individuals are a minority. Yet in terms of their holdings, their contribution to the growth of the world economy is decisive, even more so given that their numbers are increasing year on year, despite the marked slowdown in 2019. Today they number 265,000 worldwide. By 2023, their number will exceed the 350,000 mark, and their cumulative fortune will exceed 40 trillion US dollars. **Ultra-High-Net-Worth Individuals: individuals or families holding fortunes of at least thirty million dollars *High-Net-Worth Individuals: individuals or families holding fortunes of between one and thirty million US dollars

Enjoy!

Consulter le Global Property Handbook en ligne

Download the press release

 

** Ultra-High-Net-Worth Individuals: individuals or families holding fortunes of at least thirty million dollars

* High-Net-Worth Individuals: individuals or families holding fortunes of between one and thirty million dollars

© Barnes International - published on Barnes Programmes Neufs on 23/01/2020

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