New York City is once again the world’s wealthiest city, with 384,500 millionaires, 818 centi-millionaires, and 66 billionaires, according to Henley & Partners.
The report ranks the top 50 cities by number of high-net-worth individuals and highlights trends in wealth, real estate, and investment migration.
These are the U.S. cities that made the top 10: New York City (1st), Bay Area (2nd), Los Angeles (5th), and Chicago (10th).
Here you can find the complete report.
(source: Patch, Henley & Partners, picture: G6M)
by Riccardo Ravasini 
Contract activity, or the number of signed contracts, is up 10.8% from last year and down 3.6% from the monthly historical average. The median sales price for a Manhattan apartment is $1.19 million, reflecting a 13.4% increase compared to the same time last year. The supply, or the number of units available on the market, is essentially the same as last year, having decreased by just 0.3% annually. Meanwhile, the number of pending sales in Manhattan has risen 28.4% year-over-year. The Market Pulse, which represents the pending-to-active ratio, stands at 0.46, indicating a neutral market.
by Riccardo Ravasini 
Residents of Manhattan are increasingly relying on their parents to purchase or transfer properties to them.
According to new data from Attom, 28% of Manhattan home sales in 2023 involved trusts, a sharp increase from 17% just three years prior. While not all trust transactions include parents and children, they have become a go-to tool for wealth transfers, offering benefits such as reduced estate taxes, limited gift tax exposure, and increased privacy.
The surge reflects a broader shift in real estate financing, driven by a combination of rising home …
by Riccardo Ravasini 
Cash buyers are stepping back from Miami’s real estate market after their pandemic-era shopping spree. In 2024, about 38% of Miami-area homes were purchased with cash, down from 42% in 2023, according to recent data. While the decline signals a shift, the share of cash transactions remains historically high both in Miami and nationwide.
A Redfin analysis shows that across the U.S., the percentage of cash home purchases dropped to just under one-third last year, the lowest since 2021. Despite …
by Riccardo Ravasini 
Billionaire developer Vlad Doronin has sold his waterfront estate on Miami Beach’s exclusive Star Island for $120 million, setting a new record for the most expensive home sale in Miami-Dade County.
The 2.5-acre property at 26 Star Island Drive was purchased by Constellation Drive LLC, a Delaware entity led by businessman Michael Ferro. Doronin, through his company Garden Islands International LLC, originally acquired the estate in 2009 for $16 million from retired basketball star Shaquille O’Neal.
The 22,000-square-foot mansion features …
by Riccardo Ravasini