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New York Leads in City Wealth Index
In a battle between New York City and London for the top spot in Douglas Elliman | Knight Frank Residential’s 2018 City Wealth Index, New York emerged the victor. The city swept the board in each of four key metrics, and also led in the number of households earning more than $250,000: nearly 1.2 million, far more than any other.
“It is no surprise that New York has become the number one city for today’s ultra-high net worth individuals,” said Douglas Elliman’s Howard Lorber. “As the center of world financial markets, fashion, food and entertainment, with world-class architecture framing unparalleled ultra-luxury residential opportunities, in a market that has historically withstood global strife and uncertainty, people around the globe want to be part of our thriving metropolis.”
North American cities comprised 10 of the global top 20. The index is based on four key metrics: wealth, investment, lifestyle and future.
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- ◦Economy
