As the number of ultra-high-net-worth individuals continues to grow at a steady pace worldwide, real estate is emerging more than ever as their asset of choice. In its latest Wealth Report 2026, Knight Frank describes a new generation of investors who are convinced that real estate remains the best safeguard against economic uncertainty.
From the French Alps to Parisian luxury hotels, and including luxury retail and hospitality, private capital is profoundly reshaping high-end real estate markets…
The ultra-wealthy have never been so numerous
The rise of the ultra-wealthy is the main driver of the global luxury real estate market. According to Knight Frank, the global population of the ultra-wealthy—defined as individuals with more than $30 million in assets—has grown from 551,400 people in 2021 to 713,600 in 2026. This represents an average annual growth rate of 5.3% over five years. This momentum shows no signs of slowing down, as the firm forecasts nearly 948,200 ultra-high-net-worth individuals by 2031, representing an average annual growth rate of 5.8% between 2026 and 2031.
North America currently accounts for 37% of this global population, ahead of the Asia-Pacific region (30.7%) and Europe (25.8%). But the most dramatic changes are expected in the coming years: Knight Frank anticipates a 53% increase in the number of ultra-high-net-worth individuals in North America by 2031, while the Middle East is expected to see growth of 32.1%, nearly matching the global average of 32.9%.
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