Where the World's Millionaires Are Moving — and Why It's the Real-Estate Demand Map

A record 142,000 millionaires are relocating in 2025, according to Henley & Partners — the largest wealth migration ever recorded. Where the wealthy move, they buy property. So this map isn't just a tax story; it's the clearest leading indicator of high-end real-estate demand on the planet.

The magnets

• +9,800UAE — the world's #1 wealth magnet again. Zero income tax, stability, capital-friendly rules.
• +7,500United States — #2, on the promise of unmatched opportunity (and Florida's pull).
• Top 10Italy, Switzerland, Portugal, Greece, Canada, Australia, Singapore round out the leaders.

Telling detail: nine of the top ten destinations run structured investment-migration (golden-visa-type) programs. Wealth follows a clear, lawful path to residency — and real estate is usually the vehicle.

The losers

• −16,500United Kingdom — the largest outflow, triggered by the non-dom overhaul and inheritance-tax changes.
• −7,800China — a perennial net loser of millionaires.

What it means for practitioners

Two corridors light up immediately. Inbound to the U.S. — 7,500 net new millionaire arrivals need homes, structures, and counsel. UAE — the single biggest pool of newly-arrived global wealth, much of it eyeing U.S. and European property as it diversifies. And the UK exodus creates sellers and redeployers looking for friendlier jurisdictions. A practitioner positioned on either end of these flows — with the legal capability to actually close a cross-border deal — is standing exactly where the capital is moving.