Dubai has more millionaires with 2nd homes than Paris, LA

Dubai ranks among the Top 5 cities in the world in terms of hotspots that can boast of the maximum number of ultra-rich with second homes or holiday homes.

With 8,200 such multi-millionaires, Dubai is ranked at No 5 in the world, ahead of much more established markets like Paris, Zurich, Geneva and Los Angeles. This has been revealed in a New World Wealth report titled ‘The Multi-Millionaire Phenomenon: Second Home Hotspots’.

London tops the list with 22,300 multi-millionaires with second homes in the city. This is in addition to the 9,700 resident multi-millionaires living there.

?This means that during peak holiday months, London can be home to up to 32,000 multi-millionaires in total,? says the study.

Second on the list is New York City with 17,400 multi-millionaires with second homes, followed by Asian cities of Hong Kong (14,800 well-heeled ones at number 3) and Singapore (with 11,200 rich at number 4 spot).

Dubai is followed by The Hamptons, Paris, Zurich, Geneva and Rio, rounding up the Top 10.