top of page

What is Portugal’s Millionaire Triangle & why do they choose to own a property in the Algarve?


What is Portugal’s Millionaire Triangle and why do they choose to own a property in the Golden Triangle? - portugal news
What is Portugal’s Millionaire Triangle and why do they choose to own a property in the Golden Triangle? - Portugal Business News





Portugal Millionaires news - What is Portugal’s Millionaire Triangle and why do they choose to own a property in the Algarve?


Portugal’s Millionaire Triangle or Golden Triangle, that is located in the Algarve, is defined by Vilamoura marina to the west, by the luxury resorts of Quinta do Lago to the east, and by Michelin star restaurants in Almancil to the north.


Portugal’s Golden Triangle is a seasonal hotspot for millionaires according to the Henley & Partners Centi-Millionaire Report 2023 that includes statistics provided by global wealth intelligence firm New World Wealth.



What is a Centi-Millionaire?


A Centi-Millionaire is a person with investable assets that are over USD 100 million. Centi-millionaires are usually founders of large multi-national companies or the heirs to vast family fortunes.


The world’s centi-millionaires outnumber billionaires by nearly 10-1 worldwide in 2023 and their numbers have more than doubled over the past 20 years, making them an important market segment for real-estate investment.



Why do millionaires choose to own a property in Portugal’s Golden Triangle?


Millionaires having investable assets of over USD 100 million love to travel and therefore invest in their favorite destinations. Portugal’s Golden Triangle is a favorite seasonal hotspot for millionaires seeking sunshine according to the Henley & Partners Centi-Millionaire Report 2023.


Portugal’s Golden Triangle in the Algarve is the place where around 20 millionaires live all year round, and this figure surges to over 250 centi-millionaires during the summer months.


Owning a portfolio of alternative residences and citizenships has become an essential component of most of the world’s millionaires having investable assets of over USD 100 million. This allows them to diversify their taxation structure in order to limit its negative impact on wealth growth. Being able to swiftly move to another tax jurisdiction is deemed to be critical for millionaires who want to manage their wealth and to enjoy the freedom without borders that is provided by alternative residences and citizenships that are obtained through investment.



How do millionaires obtain their wealth?


Millionaires usually obtain their wealth through four main sources: inheritance, selling off their small to medium-sized enterprises, trading and investing in stock markets, and by leading multi-nationals or highly successful tech companies.



How many millionaires are there in 2023?


There are over 28,420 centi-millionaires in the world in 2023, out of which around 38% live in the US.



Where do most of the world’s millionaires live in 2023?


Most of the world’s millionaires having investable assets of over USD 100 million live in large cities.



What are the Top 10 cities in the world where millionaires live in 2023?


1 – New York city, USA

2 – The Bay Area, USA

3 – Los Angeles, USA

4 – London, UK

5 – Beijing, China

6 – Shanghai, China

7 – Singapore

8 – Hong Kong

9 – Chicago, USA

10 – Paris & Ile-de-France, France






Comments

Rated 0 out of 5 stars.
No ratings yet

Add a rating
bottom of page