Changes are occurring so rapidly on the world political and economic scene, as well as market conditions, tax incentives, places where you can go without visas, are the determining factors for millionaires when choosing their new home.
In 2023, 120,000 millionaires have migrated worldwide. This year the record will be improved as by the consulting company Nenleu & Раrtnеrѕ predict growth up to 128,000 people.
Research by another consulting company Knight Frank shows that 83% of millionaires still prefer to migrate to a large European city, while 17% head to rural or resort regions.
The survey conducted among 700 millionaires from 11 countries is based on 5 factors: economy, quality of life, environment, infection, mobility and human capital.
The first place is definitely for Paris. The French capital tops all others in the ranking with good universities, corporate headquarters and cultural investment.
Second and third place are respectively for Berlin and Barcelona. The TOP 5 also includes European cities – Vienna and Madrid. All these cities stand out with a unique culture, economy and lifestyle that appeals to millionaires. The surprise here is that London, which is often recognized as an excellent place to live for millionaires this year
Of the rural and resort regions, the most preferred for millionaires are Verbier in Switzerland, which offers luxury living in the Alps, as well as Monaco – with its excellent opportunities for a Mediterranean lifestyle.
Migration of millionaires will accelerate. Proof of this is the fact that 19% of them intend to apply for a second passport or citizenship in another country.
"Geopolitical pressures and changes in policy are causing the rich to move to more favorable jurisdictions,", says Kate Evett-Allen, Europe's editor-in-chief Knight Frank's residential lease.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE