Knight Frank’s European Lifestyle Report

Knight Frank's European Lifestyle Report 2024 is a new comprehensive research that delves into the key factors driving prime housing demand among wealthy expats in Europe. From property trends and lifestyle preferences to tax incentives and policy shifts, this report offers valuable insights for those considering a permanent move to, or across, Europe.

Whether it's for lifestyle enhancement, financial advantages, or educational opportunities, this report provides essential guidance for identifying the perfect European destination.

“The convergence of major global elections, policy shifts, geopolitical tensions and rising public deficits - intensified by the pandemic - is prompting high-net-worth individuals to reassess where they can best achieve an ideal lifestyle and safeguard their assets," said Kate Everett-Allen, Head of European Residential Research at Knight Frank. "Europe stands out in their evaluations, offering transparent property markets, top-tier education, accessibility, excellent healthcare and a high level of security and stability."

Key findings include:

• Security and privacy are prioritised over tax benefits by high-net-worth individuals (HNWIs), driven by geopolitical concerns.
• Wealth is rising and increasingly globally mobile with 19% of ultra-high-net worth individuals (UHNWIs) planning to apply for a second passport or new citizenship in 2024.
• Older HNWIs focus on tax benefits, while millennials and Gen Z prioritise employment and education opportunities.
• 83% of HNWIs looking to relocate favour city living for economic and cultural opportunities, but 17% still prefer rural or resort locations.
• London and Vienna excel as top relocation cities; Lake Geneva and Monaco lead among European resort destinations.

"Featured prominently throughout Knight Frank's European Lifestyle Report 2024, Marbella stands out as a prime location for high-net-worth individuals (HNWIs). The report highlights how its luxury real estate market continues to attract global buyers, solidifying the town’s status as a leading European resort destination.

In the "European Lifestyle Monitor," which evaluates 20 top European destinations across key metrics, Marbella ranks fifth in the Economy category. It has also emerged as the third preferred resort destination for Millennials, showcasing its cross-generational appeal.

With a strong international community, excellent infrastructure, and diverse visa options, Marbella offers high-net-worth individuals a lifestyle that combines luxury, year-round activities, and financial stability. It’s encouraging to see that the findings of Knight Frank’s report, based on thorough research and survey data, highlight Marbella’s well-deserved standing as a top European destination." – Pia Arrieta Morales, Managing Partner, DM Properties

Mar Poza, 12 Sep 2024 - Intelligence - News