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Migrating Wealth - 2025 Luxury Outlook Report

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Millionaires are on the move. The great wealth migration, which paused briefly during the pandemic, hit record levels in 2024 as an estimated 128,000 high-net-worth individuals (HNWIs) migrated to new countries, according to the 2024 Henley Private Wealth Migration Report, an annual publication analyzing the movement of HNWIs and their wealth. This trend was further backed up by banking giant UBS, which found in its December 2024 Billionaire Ambitions Report that the world’s ultra-wealthy have relocated more frequently since 2020, with 176 having moved from a total population of 2,682—or one in 15. Although there is no standard legal definition, a HNWI is popularly defined as someone with at least US$1 million in investable assets. Shifts in HNWI demographics are an important barometer of a country’s economic health and political stability, with major outflows often indicating serious underlying issues. A country’s political climate was found to be the primary concern of both buyers an

The Sotheby’s International Realty® brand’s 2026 Mid-Year Luxury Outlook report delivers an authoritative analysis of key trends driving global luxury property markets. READ NOW

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