Monaco has highest density of UHNWI in the world

monaco uhnwi

More ultra-high-net-worth individuals have chosen to make Monaco their home, by population density, than anywhere else on Earth, with one in 39 homeowners being classed as a UHNWI, according to a new report by Altrata.

The term ultra-high-net-worth individual – or UHNWI for short – describes people with investible liquid assets of at least US$30 million (around €28.5 million), excluding personal assets, property, collectables and consumer durables. This rather strict definition excludes most of the world, but there are a few enclaves where people in this category are highly prevalent. Monaco is one.  

According to a new report released by human data gathering specialists Altrata, one in every 39 homeowning residents in the Principality is a UHNWI.  

The study, entitled ‘Residential Real Estate 2023: Spotlight on the World’s Leading Markets for the Wealthy’, took a “holistic view” of properties owned by these individuals, noting that many in this category own multiple homes, and that the report is not focused solely on primary residences.  

Other interesting findings showed that London, New York and Miami were the top choices for UHNWIs to buy second homes. The top three main residence cities for this group are Hong Kong, New York and London. 

In the US, the uber-posh Colorado ski resort Aspen has the largest number of UNHWI per density, with one in 69 falling in that classification.  

“As we emerge from years riddled with uncertainty around a historic pandemic, social unrest, political discourse, and natural disasters, regardless of your age or demographic, luxury has made a monumental shift in the minds of the global population,” said Julie Faupel, Founder and CEO of REALM, which sponsored the report. “We are excited to partner with Altrata for a second time to examine how this shift is influencing how and where the world’s wealthiest individuals choose to reside.” 

Analysis used in creating this report was done with Altrata’s Wealth-X Database, the biggest collection of focused research and intelligence on the world’s wealthy, as well as with their recently updated Wealth and Investible Assets Model, which launched in December.  


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Photo by Mark de Jong on Unsplash