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  • GOBankingRates

    21 Places Where Rich People Are Buying the Most Real Estate

    By Gabrielle Olya,

    2024-06-12

    https://img.particlenews.com/image.php?url=49V9Hc_0tp2YxAl00

    You might think of cities like New York and London when you think of hubs for the ultra-rich, and while this is true, there are many other places around the world where the extremely wealthy are buying up luxury properties.

    Check Out: I’m a Real Estate Investor: 10 Places I Would Never Buy Property

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    To get insights into where the rich are buying real estate, GOBankingRates turned to the Knight Frank Prime International Residential Index, which tracks movements in luxury prices across the world’s top residential markets. Here’s a look at where luxury prices have increased the most over the past year, an indication that more wealthy people are flocking to these locales .

    https://img.particlenews.com/image.php?url=0s2kEu_0tp2YxAl00
    fazon1 / Getty Images

    1. Manila, Philippines

    • Change in luxury real estate prices: 26.3%

    See More: Barbara Corcoran: 3 Cities To Invest In Real Estate Now Before Prices Skyrocket

    Decreasing Prices: 7 Locations Where Housing Prices Are Plummeting Post-Pandemic

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    ©Shutterstock.com

    2. Dubai, United Arab Emirates

    • Change in luxury real estate prices: 15.9%

    Watch Out: Don’t Buy a House in These 3 Cities Facing a ‘Climate Change Real Estate Bubble’

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    alarico / Shutterstock.com

    3. Bahamas

    • Change in luxury real estate prices: 15%
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    4. Algarve, Portugal

    • Change in luxury real estate prices: 12.3%
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    kavram / Shutterstock.com

    4. Cape Town, South Africa

    • Change in luxury real estate prices: 12.3%

    Car Shopping: 8 Best Luxury Cars for Wealthy Retirees

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    6. Athens, Greece

    • Change in luxury real estate prices: 12%
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    Lukasz Janyst / Shutterstock.com

    6. Ibiza, Spain

    • Change in luxury real estate prices: 12%
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    Savyanvi / iStock.com

    8. Mumbai, India

    • Change in luxury real estate prices: 10%

    Learn More: 6 Reasons the Poor Stay Poor and Middle Class Doesn’t Become Wealthy

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    zhaojiankang / Getty Images/iStockphoto

    9. Shanghai

    • Change in luxury real estate prices: 8.6%
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    10. Mustique

    • Change in luxury real estate prices: 8%
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    Leonard Zhukovsky / Shutterstock.com

    10. St. Barts

    • Change in luxury real estate prices: 8%
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    kirill_makarov / Shutterstock.com

    12. Cyprus

    • Change in luxury real estate prices: 7.4%

    Plan Ahead: 16 Best Places To Retire in the US That Feel Like Europe

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    KellyISP / Getty Images/iStockphoto

    13. Marbella, Spain

    • Change in luxury real estate prices: 7.2%
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    14. Mallorca, Spain

    • Change in luxury real estate prices: 7%
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    15. Vancouver, Canada

    • Change in luxury real estate prices: 6.7%
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    Sean Pavone / Getty Images/iStockphoto

    16. Miami

    • Change in luxury real estate prices: 6.5%

    Related Reading: 4 Places To Retire That Are Better Than Florida — and Way Cheaper

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    17. Madrid

    • Change in luxury real estate prices: 6.4%
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    18. Lake Como, Italy

    • Change in luxury real estate prices: 6.2%
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    18. Seoul, South Korea

    • Change in luxury real estate prices: 6.2%

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    20. Mexico City

    • Change in luxury real estate prices: 6%
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    nicolamargaret / Getty Images/iStockphoto

    20. Val-d’Isère, France

    • Change in luxury real estate prices: 6%

    Data is sourced from Knight Frank’s Prime International Residential Index and is accurate as of March 5, 2024.

    This article originally appeared on GOBankingRates.com : 21 Places Where Rich People Are Buying the Most Real Estate

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