It's the sort of decision dreams are made of: Where should you buy your luxury home?
Global wealth information company Wealth-X collaborated with Warburg Realty and Barnes International Realty to release an analysis of the top locations around the world for the richest of the rich to buy luxury homes. London claims the top ranking.
"Overall, London ranks as the most desirable city in the world for the wealthy to buy luxury property," the report says. "The No. 1 ranking for London reflects its strength across the board, ranking in the top four places in more than half of the 11 indicators — cultural richness, luxury shopping, education, connectivity, financial safe haven, ease of doing business, and the number of ultra-wealthy individuals living in the city."
Wealth-X defines luxury homes as those valued between $1.5 million and $8 million. Ultra-luxury homes are those worth over $8 million.
The ranking weighs practical and quality of life factors including cultural experience, educational opportunities, ease of doing business, connectivity, property taxation, and the city's level of environmental consciousness. Convenient access by plane, leading universities and safety also contribute to a city's position.
1. London, U.K.
2. New York City
3. Tokyo, Japan
4. Sydney, Australia
5. Paris, France
6. Chicago (tied)
6. San Francisco (tied)
6. Osaka, Japan (tied)
9. Toronto, Canada (tied)
9. Washington, D.C. (tied)