The super-rich in the United States are very specific about where they want to live. There are a few specific locations they tend to own real estate. The Wall Street Journal did a study on those falling into the 0.1% of the wealthiest individuals in the United States and where they own real estate.
Out of 100 global locations, New York City came in first and Aspen, Colorado came in second. This was based on the prices of real estate rising in these two areas more than anywhere else in the world. New York City saw a rise of 18.8%, while Aspen, Colorado saw a rise of 16%.
Part of the reason these two make it to the top of the list is the luxury real estate available in both cities. Some of the most unique homes are found in Aspen, while New York City is famous for amazing penthouses. Not only are these to hot markets attracting super rich buyers, but they buyers are coming with cash.
When the super-rich invest in real estate it’s usually very location driven. Some buy because they love the area, while others do it because they feel it’s a safe investment. They want to know the home is going to go up in value. With renewed confidence in the U.S. economy some of the richest real estate investors are moving into safe-havens to buy luxury real estate. This is why Aspen and New York City have seen spikes in home prices over the past couple of years.
Along with New York City and Aspen making the list at one and two, the rest of the top ten includes:
- Abu Dhabi
- San Francisco
- Cape Town
- Los Angeles
While New York and Aspen remain the most coveted markets for the super-rich, many other cities are right behind and becoming hotter. However, in the United States, it doesn’t get any hotter than these two top cities.
Europe’s destinations for second homes didn’t fare well. Places, such as Tuscany and Cannes didn’t do very well compared to United States cities. Europe, overall, fell about 0.4% due to the high performing United States cities and even the strong performance from Amsterdam, Berlin and Dublin couldn’t keep the top 31 spots in Europe from falling.
Finding a Luxury Home in Aspen, Colorado
Whether you’re super rich or just wealthy enough to afford a home in Aspen, Colorado, you may need help finding the right home. There are many excellent homes hitting the market every month and most are rather unique. With the right local real estate agent, you can find the best Aspen, Colorado home for sale fitting your budget and your specific taste.
If you want to live where the super-rich own property, Aspen is a great choice. Enjoy plenty of excellent skiing, amazing summer events and more when you choose the right Aspen real estate agent to help you find the best home for your specific needs.