The New Global Ranking
In the newly released Savills Plc Spotlight on Wealth Trends 2025 report, Dubai claimed the top spot globally in the HNWI Hotspot Index — pushing New York City into second place.
The ranking evaluated nearly 100 cities using five key criteria:
Business environment & wealth clustering
Family infrastructure & cost
Legacy / long-term living appeal
Lifestyle
Privacy & security
In short: for ultra-high-net-worth individuals (HNWIs) looking for places to live, invest or relocate, Dubai now leads.
Why Dubai Leads — At-a-Glance
Here are the major pull-factors giving Dubai the edge:
Tax environment: Dubai offers zero income tax, zero capital gains tax, zero wealth tax and no inheritance tax in many cases — a major draw for high-net-worth individuals.
Family/facilities: The report notes Dubai has around 168 international schools, topping the education metric.
Lifestyle & mobility: Strong airport connectivity, luxury shopping, high-end services, family infrastructure and modern housing are all core considerations.
Global business & residency friendly: The UAE has structured business zones, streamlined foreign investment rules, and visa routes (e.g., the Golden Visa) that make relocation simpler.
Changing mindset of wealthy individuals: HNWIs are increasingly prioritising lifestyle, flexibility and long-term usability of assets (not just trophy homes). The report emphasises mobility and fluid residence among markets.
How New York Compares
While New York remains a heavyweight globally, here are the key dynamics:
As a long-standing global financial centre, New York retains major strengths in capital markets, business networks, culture and global influence.
However, for HNWIs looking beyond business-only considerations, the relative drawbacks include higher taxes (federal, state, local, capital/gains, inheritance), higher cost of living, and growing concerns about regulation, noise and urban complexity.
The shift in the Savills ranking suggests that when broader lifestyle + family + tax + mobility criteria are considered, New York is no longer automatically the first choice.
Why This Matters for Property Investors (Especially via International Property Alerts)
Incoming capital flows: If wealthy individuals are increasingly choosing Dubai as a destination, property demand (especially luxury/residential) is likely to climb — which can benefit investors.
Emerging rental market dynamics: With more affluent residents moving in, rental yields, premium services (branded residences, serviced apartments) and high-end investor products may gain traction.
Comparative positioning: For investors from high-tax jurisdictions (e.g., UK, EU), highlighting the tax-efficient structure of Dubai becomes a compelling proposition.
Market diversification: Investors traditionally binding to Western hubs (London, New York) may increasingly pivot to Middle East or Asian alternatives — being early or repositioned in such markets could yield advantage.
Important Caveats
This ranking is one snapshot, measuring appeal for wealthy individuals, not necessarily all property markets. For mainstream buyers or mid-tier investors the dynamics may differ.
Local + micro factors still matter: in Dubai, legal ownership structure (freehold vs leasehold), developer reputation, service charges, overflow supply and currency risk are real issues.
High ranking ≠ guaranteed maximum returns. Entry price, rental market saturation, future legislation still need careful research.
New York still offers unique advantages (global liquidity, historic asset depth, brand-value property) and may appeal in different investor scenarios (e.g., ultra-prime trophy homes, global credentials).
Geopolitical and macro-economic risks remain: Middle East regional risks, global tax policy shifts, currency fluctuations.
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