Global wealth is redrawing the map of prime real estate—and the numbers tell a clear story. Luxury residential prices across 100 key markets rose 3.2% in 2025, outperforming mainstream housing, but the real action is concentrated in a handful of high-growth hubs, according to the 2026 Wealth Report by global real estate consultancy firm Knight Frank.
The Middle East led with a 9.4% surge, driven by Dubai’s 25.1% jump, while Tokyo recorded an extraordinary 58.5% spike.This momentum is being powered by a rapid expansion in global wealth. The number of ultra-high-net-worth individuals (UHNWIs) rose to 713,626 in 2026, up from 551,435 in 2021—adding over 162,000 new ultra-rich individuals, or roughly 89 people crossing the $30 million threshold every day, said the report.
The Wealth Report 2026 highlights a more nuanced trend: the rise of ultra-prime micro-markets—small, exclusive destinations that are seeing outsized demand from the world’s wealthiest buyers.
At the heart of this trend is a deeper change in how wealth is perceived and deployed. The report notes that luxury consumption is evolving away from “the accumulation of goods” toward “experience-led consumption” focused on wellness, purpose and belonging.
These are not just cities, but specific enclaves—places like Dalefield in Queenstown, New Zealand and St-Martin-de-Belleville in the French Alps—where supply is limited, lifestyle is unmatched, and prices are being driven by a global pool of mobile capital.
Where capital is flowing: New global property hotspots
The report shows a clear reallocation of capital toward:
1. Low-tax, high-lifestyle hubs
Dubai
Miami
UAE cities
Parts of Italy
These markets benefit from:
Tax efficiency
Strong infrastructure
Global connectivity
2. Experience-led destinations
Wealth is flowing into:
-
Alpine resorts -
Coastal retreats -
Vineyard estates -
Lifestyle enclaves
These locations offer:
-
Exclusivity -
Natural beauty -
Limited supply
The report notes that buyers are willing to: Pay a premium for provenance, exclusivity, and lifestyle integration
Here are the hottest property markets of 2025:
Via Veneto, Rome, Italy
Once synonymous with Fellini’s seminal 1960s film La Dolce Vita, Via Veneto is reclaiming its status as one of Rome’s most glamorous addresses.
WHO’S BUYING?
International investors seeking a Roman pied-à-terre, private equity and family offices backing change-of-use schemes, corporate tenants linked to nearby HQs and embassies. Alongside Italian purchasers, American and Polish buyers currently dominate in the prime segment.
WHAT YOU PAY
With a budget of around US$1.2 million, buyers can secure a fully renovated 100 sq m apartment – the most sought-after size for professional tenants – while a fivebedroom villa in the area commands pwards of US$19 million.
Deià, Mallorca, Spain
Nestled at the foot of the Teix mountain on Mallorca’s north west coast, Deià is one of Europe’s most famous and treasured villages. Long favoured by artists and writers, its honeycoloured stone houses, terraced olive groves and winding lanes create a distinct sense of place. Views that sweep across the village, mountains and sea define its appeal, as does the gentle rhythm of life shaped between home, village and the cala.
WHO’S BUYING?
Primarily British, US and northern European second-home owners, with longer stays and relocations becoming common as the village attracts a broader international audience.
WHAT YOU PAY
Strict planning controls and UNESCO protection limit supply. Two-bedroom village homes start at around $2.4 million; fourbedroom villas with pools and sea views are available from roughly US$8 million.
WHAT TO EXPECT
Exceptional light, crystalline coves and a strong, characterful community.
Dalefield, located near Queenstown in New Zealand, has emerged as one of the most sought-after ultra-prime residential pockets globally.
What makes it hot
Large estate-style properties with expansive land parcels
Panoramic views of mountains and lakes
Strong appeal among global billionaires seeking privacy and security
Unlike dense urban luxury markets, Dalefield offers:
Space, seclusion, and natural beauty—key priorities for post-pandemic wealth
Who is buying
International UHNWIs
Tech entrepreneurs
Investors seeking safe-haven assets
The government’s new visa rules allow certain classes of investors to purchase one home valued above US$3 million.
New Zealand’s reputation for:
Political stability
Low population density
High quality of life
has made Queenstown—and Dalefield in particular—a global luxury retreat market.
St-Martin-de-Belleville, French Alps: Old-world charm meets ultra-luxury
In Europe, St-Martin-de-Belleville, part of the famed Les Trois Vallées ski region, is redefining alpine luxury.
Why demand is rising
Combines authentic village charm with high-end chalet living
Access to one of the world’s largest ski areas
Limited development, preserving exclusivity
Unlike more commercial ski destinations, St-Martin offers:
A quieter, more refined luxury experience
Investment appeal
Strong seasonal rental demand
Long-term capital appreciation
High desirability among European and global elites
The Alps continue to benefit from:
Infrastructure upgrades
Year-round tourism (not just skiing)
…making them a multi-season investment play.
WHO’S BUYING?
Lifestyle-led buyers drawn to a more discreet alternative to the headline resorts, prioritising privacy, year-round use and long-term value.
WHAT YOU PAY
Three-bedroom apartments start from around US$1.1 million, with four-bedroom chalets from US$1.8 million, depending on views, positioning and wellness amenities.
Lake Como, Italy
Lake Como, Italy, continues to stand out as one of Europe’s most enduring luxury property markets, long favoured by affluent Italians and wealthy European buyers. Set against the backdrop of the Alps and located close to Milan and Switzerland, it offers a rare blend of accessibility and scenic exclusivity, making it both a seasonal retreat and a long-term residential base.
Demand has remained consistently strong, supported by the limited availability of historic lakefront villas that feature private gardens, boathouses and expansive terraces. Prices have shown steady growth over time, underpinned by the market’s stability and timeless appeal. Life around Lake Como revolves around the water, with picturesque towns such as Bellagio, Tremezzo, Menaggio and Varenna easily accessible by road and boat.
Who is buying?
Buyer interest is largely driven by international families and Milan-based business owners looking for a European foothold. In recent years, demand has been particularly strong from American and northern European buyers, along with rising interest from the Middle East, aided by Italy’s attractive flat-tax regime.
What you pay?
In terms of pricing, three-bedroom apartments typically range from $2 million to $5 million, while premium four- or five-bedroom lakefront villas can command between $14 million and $18 million.
Upper East Side, Manhattan
Known for its elegant pre-war buildings and classic townhouses, the Upper East Side is home to The Met and MoMA, high-end boutiques and designer stores, excellent private schools and healthcare institutions.
WHO’S BUYING?
Domestic and international buyers drawn to the prestige of this coveted neighbourhood.
WHAT YOU PAY
New condos and pre-war residences start at $3,000 per sq ft and can exceed US$6,000 to US$7,000 per sq ft. Townhouses in need of renovation trade between US$2,500 and US$3,000 per sq ft, rising to US$4,000 per sq ft for a turnkey residence.
Pacific Palisades, Los Angeles, US
This affluent residential neighbourhood tucked between the Santa Monica Mountains and the Pacific Ocean offers hiking trails with
sweeping coastline views, while the sandy Will Rogers State Beach provides access to a 22-mile beachfront bike path. Landmarks include the Getty Villa Museum and mid-20th century architectural gem The Eames House.
WHO’S BUYING?
Homeowners are rebuilding following 2025’s devastating wildfires, restoring the area’s picturesque beauty. For those looking to join the community, beautiful estates command between $10 million and $25 million.
WHAT YOU PAY
In a global context, Los Angeles is attractive, with prices typically between US$2,000 and US$2,500 per sq ft.
Silberküste, Zurich, Switzerland
Stretching along the western shore of Lake Zurich, the Silberküste is one of the city’s most discreet and established residential districts. Lower profile than the better known Goldküste, it attracts buyers seeking privacy, space and long-term value. Lex Koller requires non-resident buyers to take Swiss residency, attracting committed long-term internationals, while corporate purchases need Swiss control.
The area offers lakeside living with swift access to Zurich, plus amenities such as the Golf & Country Club Schönenberg and the Zurich Yacht Club. Residents also enjoy local traditions, including April’s Sechseläuten, best experienced from the lake.
WHO’S BUYING?
Swiss families, senior executives and business owners, including buyers from the US, UK and northern Europe relocating as Swiss residents.
WHAT YOU PAY
Two-bedroom apartments start at around $1.9 million, while prime waterfront villas start at around US$25 million.
WHAT TO EXPECT
A refined, understated lifestyle centred on swimming, sailing and dining at longstanding favourites such as Chez Fritz or Tracht.
Chelsea, London, UK
Chelsea’s Tudor, Georgian and Victorian architecture has evolved naturally rather than through wholesale redevelopment, with former artists’ studios sitting alongside townhouses and atmospheric mews. Quiet tree-lined streets and a certain creative spirit create a genuine sense of “home” for a settled population of residents, supported by schools and local amenities including the iconic Peter Jones department store, the Saatchi Gallery and Bluebird restaurant.
WHO’S BUYING?
Demand is anchored by domestic buyers, although international interest is growing, particularly from the US, increasing the diversity of overseas buyers.
WHAT YOU PAY
Two-bedroom apartments range from US$875,000 to US$2.7 million, three-bedroom houses from US$2.7 million to US$5 million, and larger family houses in the region of US$7.4 million to US$13.4 million.
Geelong, Victoria, Australia
Geelong’s waterfront has emerged as one of the region’s most sought-after neighbourhoods. Nearby leisure options include the Surf Coast’s beaches and the Bellarine Peninsula’s wineries and golf courses, as well as marina facilities.
Significant public and private investment is helping boost cultural and recreational opportunities and improving links to Melbourne and major airports, while the city retains its relaxed coastal character.
WHO’S BUYING?
Melbourne lifestyle movers, professionals, downsizing retirees, and investors seeking coastal areas with steady long-term prospects.
WHAT YOU PAY
A modern two-bedroom waterfront apartment typically starts from US$1.5 million, while a four-bedroom detached home close to the bay commands more than US$2 million.
WHAT TO EXPECT
Expansive views across Corio Bay and a vibrant, walkable foreshore.