The Honey Pot Cities That The Mega Rich Can’t Resist

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London and New York are honey pots that lure the meg-rich to live, work and play, according to a new study.

Each year, experts rank the appeal of 100 cities to rank them by appeal, a place to invest, live and spend time.

And every year, New York and London vie for the top places.

The Big Apple tops the table for wealth and investment, but hands the best city for lifestyle title to London and slips behind Paris into third place.

In fact, the USA dominates the top of the listings with eight of the top 21 cities.

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Property is key investment for billionaires

Wealth is determined by the number of super rich living in a city.

Investment looks at how much property the super-rich own, while lifestyle looks at facilities for the wealthy, like luxury hotels and restaurants, top universities located nearby and ease of travel to other global cities.

No cities from South America or Africa make the top 20 cut.

The Knight Frank Global Cities Index 2020, which collated the data for a 2020 wealth report, says 27% of the wealth of the billionaires is allocated to property investment.

Property is also the most popular investment, railed by equities (23%), bonds (17%) and cash (11%). The rest is spread across private equity, collectables, precious metals and cryptocurrency.

Best cities for super rich to live

Overall City Country Wealth Investment Lifestyle
1 New York USA New York New York London
2 London UK Los Angeles London Paris
3 Paris France Tokyo Paris New York
4 Hong Kong Hong Kong Paris Shanghai Hong Kong
5 Los Angeles USA London Hong Kong Singapore
6 Chicago USA Chicago Beijing Shanghai
7 Singapore Singapore Washington Washington Los Angeles
8 Beijing China San Francisco Sydney Amsterdam
9 Washington USA Dallas Chicago Chicago
10 Madrid Spain Houston San Francisco Madrid
11 San Francisco USA Moscow Singapore Tokyo
12 Shanghai China Hong Kong Madrid Beijing
13 Tokyo Japan Boston Houston Vienna
14 Amsterdam Netherlands Beijing Los Angeles Toronto
15 Sydney Australia Toronto Boston San Francisco
16 Boston USA Singapore Dallas Moscow
17 Dallas USA Madrid Vienna Washington
18 Toronto Canada Sydney Amsterdam Sydney
19 Houston USA Amsterdam Toronto Boston
20 Vienna Austria Vienna Moscow Dallas
21 Moscow Russia Shanghai Tokyo Houston

Source: Knight Frank

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