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Worldwide: A whitepaper from PKF Hospitality examines why high-net-worth individuals (HNWIs) are relocating, where they are moving to, and how this migration is reshaping branded residences.
Cross-border HNWI migration is forecast to reach 165,000 by the end of 2026. This is up from 142,000 in 2025.
Five nations accounted for the bulk of global millionaire outflow in 2025-26: the United Kingdom, China, India, South Korea, and Russia.
The increasing mobility of wealth is driving the evolution of luxury real estate and branded residences. The report identifies three branded residence buyer profiles:
- Primary residence buyers seeking full-time luxury living with hotel-level service.
- Second-home owners, now the largest segment, who value hassle-free ownership and operational support.
- Investors attracted by brand premiums, rental income potential and long-term asset appreciation.
The UAE continues to attract the world’s largest millionaire inflows, drawing nearly 10,000 new HNWIs in 2025. Buyer demographics of branded residences skew toward international investors, entrepreneurs, second-home owners and a growing pool of crypto-and-finance start-up founders.
However, the report notes that geopolitical tensions in the Middle East could prompt some investors to reallocate wealth to “stable alternatives”. Dubai is expected to be “heavily affected in the short-to-mid-term”.
The United States, Singapore, Switzerland, Italy, Saudi Arabia, Portugal, Spain, Greece, Canada and Australia are also identified as global hotspots for branded residence buyers, each attracting affluent buyers for different reasons.
Emerging wealth hotspots to watch include:
- Montenegro: HNWI population up 124 per cent over the past decade
- Malta: HNWI numbers up 87 per cent
- Latvia: HNWI population up 70 per cent
- Costa Rica: HNWI population up 72 per cent
- Panama: HNWI population up 69 per cent
In addition to emerging markets, PKF expects three themes to define the next phase of branded residence growth: greater technology integration, sustainability-led development, and wellness-focused living.
The report can be read in full here.
Highlights:
- PKF Hospitality whitepaper highlights cross-border HNWI migration reaching 165,000 by 2026, up from 142,000 in 2025.
- The United Kingdom, China, India, South Korea and Russia are identified as the primary sources of millionaire outflows driving luxury real estate mobility trends.
- The UAE continues to lead global millionaire inflows, attracting nearly 10,000 HNWIs in 2025.
- Key branded residence buyer segments include primary homeowners, second-home owners seeking serviced living, and investors focused on rental yields and brand premiums.
- Emerging hotspots such as Montenegro, Malta, Latvia, Costa Rica and Panama are recording rapid HNWI population growth.
