By Kai Ioh, Founding Member REALM
From Residences to Global Strategies
The world’s top 0.1 percent no longer just purchase real estate—they engineer residential portfolios. Currency swings, climate resilience, mobility visas, even philanthropic ecosystems now steer where an ultra-high-net-worth (UHNW) family plants its next flag.
At REALM, we have spent the last three years partnering with Altrata(Wealth X) to decode those moves. The new 2025 Residential Real Estate Intelligence Brief draws on 4 million-plus UHNW profiles across 175 countries—then fuses that macro view with the first-hand insights we trade daily inside the REALM network. In other words, it’s not yesterday’s sales recap; it’s a blueprint for the decade ahead.
1. The Global Power Map
“Global Top 20 Cities by UHNW Residential Footprint”
New York remains the planet’s UHNW capital, hosting more than 33,000 ultra-wealthy residents—roughly two-thirds larger than second-place Los Angeles. Hong Kong, Miami, and London complete the top five, underscoring a key point: the United States still claims 15 of the top 20 slots.
Key takeaway. American real estate remains the bedrock of global wealth strategy. A dollar-denominated asset under a transparent legal system offers currency protection and rule-of-law certainty many emerging markets can’t match.
2. America’s Second-Home Circuit
“U.S. Top 10 UHNW Cities by Secondary-Home Owners”
Miami tops the second-home leaderboard with more than 13,000 UHNW owners, and a remarkable three-quarters of its ultra-wealthy footprint is non-primary. Naples (FL) is the dark-horse outlier: 95 percent of its UHNW ownership is truly secondary—proof that lifestyle, not corporate HQs, now drives demand.
Key takeaway. The Florida model—warm climate, tax efficiency, and private-jet infrastructure—has become a template for lifestyle-driven capital migration across the United States.
3. International Lifestyle Labs
“Non-U.S. Top 10 UHNW Cities by Secondary-Home Owners”
London attracts over 9,000 UHNW secondary-home owners, eclipsing Beijing and Hong Kong combined. Geneva, Dubai, and Singapore are surging thanks to residency visas, low-tax regimes, and world-class connectivity. The UK capital is one of only two European cities in the top 20 (Paris in 15th).
Key takeaway. The ultra-wealthy increasingly triangulate residences across three continents—one business base, one tax-optimized hub, and one lifestyle retreat—creating portfolios that are both resilient and experiential.
4. Where Wealth Is Thickest
“U.S. Cities by UHNW Density”
“Non-U.S. Cities by UHNW Density”
Monaco sits in a league of its own with one UHNW resident per 22 people—essentially a live-in private members’ club. Aspen leads the United States at 1 : 77, illustrating how philanthropy, outdoor pursuits, and networking converge at altitude.
Key takeaway. Density compounds opportunity. In tightly knit enclaves—from Monaco’s promenade to Aspen’s après-ski scene—neighbors become venture partners, board members, and philanthropic allies.
5. Portfolio Playbook – Five Strategic Takeaways
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Tri-Continent Diversification
UHNW families increasingly combine a U.S. primary hub (New York, L.A.), a European or Middle-East tax base (London, Dubai), and a Pacific-rim retreat to hedge policy shifts and climate volatility. -
Climate Hedges
Elevation, rainfall patterns, and water security now outrank raw square footage. Destinations offering dry micro-climates and stable temperatures consistently rise on resilience checklists. -
Mobility Visas & Tax Treaties
Pairing Portugal’s Golden Visa or the UAE’s 10-year residency with U.S. property protections is emerging as a preferred play for cross-border flexibility. -
Philanthropy as a Location Filter
Aspen proves mission-aligned communities attract like-minded UHNW neighbors. Markets with strong cultural or environmental initiatives create a similar nexus of purpose and place. -
Legacy Structuring
Multi-generational trusts are embedding trophy real assets—rather than equities alone—for long-term stability. Estates that include club memberships or transferable privileges add exponential value for heirs.
6. Big Island, Big Presence
Although the report casts a global net, its findings validate what we’ve witnessed firsthand along Hawaii Island’s Kona Coast. Over the past decade, the Big Island has quietly dominated the state’s ultra-luxury segment, outpacing even Maui in $10 million-plus transactions. Gated communities such as Kukio, Hualalai, and Kohanaiki now sit on the short list of destinations the world’s wealthiest consider essential to a diversified lifestyle portfolio.
| Strategic Driver | Kona-Coast Advantage |
|---|---|
| Climate resilience | Leeward micro-climate delivers ~300 sunny days and sits outside most hurricane tracks. |
| Space & privacy | Five-acre estates and ultra-low density create true seclusion—impossible in Aspen or the Hamptons. |
| Time-zone sweet spot | Proximity to Silicon Valley and Asia. |
| Peer community | Fortune-500 founders, hedge-fund principals, and next-gen tech leaders already anchor the clubs. |
In short, the Big Island checks every box the report highlights: U.S. legal certainty, climate security, world-class lifestyle, and an elite peer group that multiplies opportunity.
7. Why We at REALM Are Different
Big data without context is just noise. As founding members of REALM, we transform statistics into strategy every day.
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Global Lens, Local Precision. REALM now spans 40 U.S. states and 16 countries, yet each member operates as a micro-market specialist.
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Predictive, Not Retrospective. Our dataset refreshes continuously, so we can flag capital migrations months before they spike MLS comps.
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Conversation Catalyst. Whether we’re exploring currency exposure or next-gen ESG goals, the report equips us to elevate every client interaction into a portfolio-level dialogue.
Final Thought
We all share the same sky, but the ultra-wealthy choose where to experience it with remarkable intentionality. The 2025 REALM × Altrata report confirms two truths:
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Capital follows certainty—legal, climatic, and cultural.
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Community multiplies value—whether on Monaco’s marina, Miami’s sandbar, or Kona’s unique lava coast.
If you’re planning your next residential chess move, let’s strategize together. With REALM’s global intelligence and our Big Island expertise, we’ll align your lifestyle vision with a data-backed plan built to last generations.
Please email me and I will share the report. kai.ioh@compass.com
Ready for a deeper dive? Reach out for the full report and a custom portfolio-mapping session tailored to your family’s goals.