Dubai took the first place in the ranking of attractive cities for millionaires

Dubai in the United Arab Emirates (UAE) took the first place in the ranking of the most attractive cities for millionaires. This is stated in a study by real estate broker Savills Plc, which has compiled a rating of 30 cities in the world according to their attractiveness to wealthy people.

According to a report reviewed by Bloomberg, the city topped the list due to the absence of inheritance and capital gains taxes, well-developed infrastructure, high security and the largest number of international schools. Experts also called the golden visa program a significant advantage, which allows you to obtain a ten-year residence permit with investments starting from 2 million dirhams (approximately $544.5 thousand).

New York is also in second place, and Singapore is in third. At the same time, London, despite maintaining its leadership in terms of living standards, dropped to 10th place in the ranking due to the peculiarities of the British tax system, which had an impact on the luxury real estate market.

Savills noted that global prosperity is gradually recovering from the recession of 2022. Also in 2024, the number of dollar millionaires increased by 680 thousand people, and by 2029, according to analysts, their number will increase by more than 5 million.

In July, a report by the Swiss banking group Julius Baer reported that Singapore was recognized as the most expensive city in the world for wealthy people for the third year in a row. It is noted that London took the second place in the ranking, and Hong Kong took the third. Monaco and Zurich are also among the five most expensive cities. They are followed by Shanghai, Dubai, New York, Paris and Milan.

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