Dubai Enters the List of World's Elite Cities Sought for Second Homes by the Super-Rich
Top 20 Cities for Ultra-Wealthy Second Home Ownership in 2025
According to a recent analysis by Altrata, the top 20 global cities where individuals with a net worth of at least $30 million are most likely to own second homes are led by Miami, which ranks number one for ultra-high-net-worth (UHNW) second-home ownership.
Miami is now the premier city globally for second homes owned by the ultra-wealthy, with over 13,200 UHNW second-home owners attracted by tax benefits and cultural appeal. New York City remains the global leader in total UHNW residential presence, including primary and secondary homes, with more than 33,200 individuals of $30M+ net worth owning property there.
Los Angeles and Hong Kong each have close to 20,000 UHNW residential owners. Monaco holds the highest UHNW density worldwide, with one ultra-wealthy individual for every 22 residents, maintaining its allure as a strategic wealth hub. Dubai has joined the top 10 cities, with 1,288 verified UHNW second-home owners, benefiting from tax-friendly policies and a “golden visa” program.
Other notable US cities with high UHNW concentrations include Aspen and Naples, Florida. Lisbon is identified as an emerging destination for US-based UHNW buyers, noted for its cosmopolitan appeal and affordability relative to traditional luxury hubs, although residency-linked investment pathways have recently been tightened.
The ranking reflects a dynamic shift away from traditional European playgrounds like Monaco and Saint-Tropez toward cities offering strategic wealth preservation, investment potential, and lifestyle advantages. These findings are based on Altrata's analysis of verified UHNW profiles, property ownership records, and relationship networks drawn from Wealth-X and RelSci databases encompassing approximately 480,000 ultra-wealthy individuals globally as of July 2025.
While the full top 20 cities list is not explicitly enumerated in the available excerpts, the key leading and rising cities identified by Altrata for UHNW second-home ownership in 2025 include:
- Miami
- New York City
- Los Angeles
- Hong Kong
- Monaco
- Dubai
- Aspen (CO, USA)
- Naples (FL, USA)
- Lisbon (Portugal)
These reflect the major strategic and lifestyle centers favored by the ultra-wealthy for their second homes in 2025. For more detailed information, obtaining the full Altrata 2025 Residential Real Estate report or associated luxury property intelligence publications would provide the complete ranked listing.
In today's volatile climate, third and even fourth homes are becoming safe stores of value, according to Jack Cotton, a veteran Sotheby's International Realty broker. Real estate in rare or beautiful locations, such as Dubai, is compared to gold, as it can be lived in and memories can be built. In the future, we can expect to see these trends continue as the ultra-wealthy seek out strategic and luxurious locations for their second homes.
[1]: [Source 1] [3]: [Source 3] [4]: [Source 4] [5]: [Source 5]
In light of Altrata's analysis, Miami, New York City, Los Angeles, Hong Kong, Monaco, Dubai, Aspen, Naples, and Lisbon are the top cities that ultra-high-net-worth individuals are most likely to own second homes in 2025. As the ultra-wealthy look for strategic and luxurious locations for their second homes in volatile times, they are also considering cities with potential for wealth preservation and lifestyle advantages, such as Dubai and Aspen, where real estate is compared to gold. The education and cultural appeal of cities like New York and Miami, as well as the economic benefits of places like Monaco and Hong Kong, make them attractive destinations for second-home ownership (Source 1, Source 3, Source 4, Source 5). Furthermore, in line with the shifting preferences for second-home ownership, cities like Lisbon offer a cosmopolitan appeal and affordability compared to traditional luxury hubs (Source 5).
