Top 20 European cities where ultra high net worth individuals invest in real estate
- Portugal Business News
- 3 days ago
- 5 min read
Real Estate News Europe – Here is the ranking of the Top 20 European cities where ultra high net worth individuals invest in real estate in 2025, according to the Barnes ranking:
“Madrid or Milan meet the expectations of ultra high net worth individuals, who prefer authentic destinations where they can immerse themselves in the art of living, while benefiting from solid fundamentals, such as quality schools and universities, modern infrastructure and significant value-added potential”, stated Heidi Barnes, founder of BARNES.
Ultra High-Net-Worth Individuals (UHNWIs) are those with at least $30 million in net assets. The U.S. is home to the most UHNWIs in the world with a total of 208,560, according to Knight Frank. While most UHNWIs allocate a significant portion of their portfolios to equities, commercial real estate, and bonds, the source of their wealth comes from the value of their primary and secondary homes.
Top 20 European cities where ultra high net worth individuals invest in real estate in 2025:
1 – Madrid
Madrid is the No. 1 most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025. Madrid is connected, festive, cultural and gastronomic, cosmopolitan, cheerful and lively – everything a jetsetter will look for.
Madrid’s quality of life, low crime rate, pleasant climate, free public services, top-notch healthcare, quality education and excellent transport system make it a preferred location for real estate investors from all over the world.
Moreover, Madrid is home to the headquarters of some of the country's largest companies and is Europe's fourth-largest city in terms of the number of multinational headquarters.
Since a growing number of companies and investment funds are relocating to Madrid, the city is home to a high-quality foreign population, that has grown by 20% since 2016.
The preferred areas for ultra high net worth individuals to buy real estate in Madrid are:
1 - The Salamanca district - for its spacious family apartments, luxury boutiques and great restaurants. As a result, prices in Slamanca have risen by 20%.
2 - Chamberí - for its calm and numerous shops. As a result, prices in Chamberi have risen by 11%.
3 - Chamartín - which is earning its stripes as a trendy new residential district,
4 - Cortes Las Letras - a lively and festive area.
2 - Monaco
Monaco is the 2nd most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025. Monaco is attractive for its glamour, modernity and respect for the environment. Moreover, living in Monaco means benefiting from a hub of attraction with an intense cultural, sporting, festive and gastronomic life.
Additional reasons why Ultra high net worth individuals choose to buy real estate in Monaco are its security, political and economic stability, and tax attractiveness.
Monaco is a model in terms of security, with complete coverage of the territory by a video surveillance system and the highest ratio of police officers per inhabitant in the world. It also benefits from a mild tax climate, with no income, inheritance or capital gains tax for individuals. Tax conditions are also favorable for businesses.
Monaco is a popular real estate investment choice, despite the very high prices per square meter of real estate in Monaco, that range between €40,000 and €100,000, prices have risen by 38% in 10 years.
The preferred areas for ultra high net worth individuals to buy real estate in Monaco are:
1 - The Fontvieille area
2 - The Larvotto area
3 - The Carré d'Or area
4 - The emblematic new Mareterra eco-neighborhood – which, despite prices ranging from €90,000 to €120,000/m2, have no trouble finding takers.
3 - Milan
Milan is the 3rd most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
The quality of life in Milan’s historic center is incomparable as it is a hotbed of international fashion and design while also being ideally located between the sea and the mountains, all qualities attracting international fortunes to invest in Milan. Other assets include the quality of its international schools, Milan’s cultural life, its gastronomy and its cultural offering.
4 - Paris
Paris is the 4th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
5 - London
London is the 5th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
6 - Rome
Rome is the 6th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
7 - Budapest
Budapest is the 7th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
8 - Geneva
Geneva is the 8th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
9 - Istanbul
Istanbul is the 9th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
10 – Athens
Athens is the 10th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
11 - Zurich
Zurich is the 11th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
12 - Stockholm
Stockholm is the 12th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
13 - Copenhagen
Copenhagen is the 13th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
14 - Barcelona
Barcelona is the 14th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
15 - Vienna
Vienna is the 15th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
16 - Lisbon
Lisbon is the 16th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
17 - Dublin
Dublin is the 17th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
18 - Amsterdam
Amsterdam is the 18th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
19 - Brussels
Brussels is the 19th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
20 - Munich
Munich is the 20th most sought-after destination for ultra high net worth individuals who want to invest in real estate in Europe in 2025.
