When considering relocation, high-net-worth individuals tend to favour cities over coastal or mountain areas. According to the latest Knight Frank survey, the services and quality of life offered by European cities are particularly appealing to the wealthy. Capital cities such as Lisbon and London top their list, with Madrid and Barcelona also featuring in the top five. Beyond urban centres, the Balearic Islands stand out, along with the Algarve, Tuscany and prime areas of the Alps.
Knight Frank surveyed more than 700 high-net-worth individuals (HNWIs) to understand their preferences for Europe’s most attractive places to live, as well as the factors motivating a move to a city, coastal destination or mountain retreat.
The majority of respondents said they prefer city living over coastal, rural or mountainous locations. European cities attract the affluent thanks to their high-quality services, lifestyle offerings and overall standard of living.
Where the wealthiest want to live
Among the most popular European cities for relocation, Lisbon ranks first, followed by London, Madrid, Dublin and Barcelona. Lisbon is particularly favoured by French, American and especially Brazilian individuals, while London tops the list for Chinese, American and Italian movers. Among Spanish destinations, Mexicans, Americans and Colombians show the greatest interest in Madrid, whereas the French, British and Belgians prefer Barcelona.
For non-urban prime destinations, mountain resorts are highly desirable, with Chamonix-Mont Blanc and Verbier – iconic locations in the French and Swiss Alps – being especially popular with British and American buyers.
Following these are Tuscany, the Algarve and the Balearic Islands, celebrated for their natural beauty, high quality of life and favourable climate. The British, Belgians and Swiss show the greatest interest in the Mediterranean archipelago, while the Irish and Dutch favour Portugal’s Atlantic coast. Tuscany is particularly sought after by British, American and Swiss buyers.
Services and quality of life, the main preferences
Among the top considerations for relocating to a European destination are access to healthcare, international schools, proximity to transport networks, sea views and business opportunities. Political and social stability, along with financial security, also remain important factors for high-net-worth individuals.
According to the survey, 46% of respondents are planning to relocate within Europe in the coming years, while 50% intend to apply for some form of European visa.
The importance of tax incentives
Taxes play a crucial role in relocation decisions. Some 63% of respondents stated that incentives such as Italy’s flat tax or Portugal’s non-habitual resident regime would influence their choice. High-net-worth individuals also consider the levels of income, property, capital gains and wealth taxes they would face.
The survey also underscores the rise of remote work: 63% of respondents work remotely at least part of the week, which enhances international mobility and allows them to choose more attractive living destinations, particularly among creative and tech professionals.
Europe continues to strengthen its position as a preferred continent for those prioritising quality of life, security and lifestyle flexibility.
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