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The Super-Rich's Favorite Cities

The Huffington Post  |  By Posted: 03/28/2012 4:14 pm Updated: 03/29/2012 1:26 pm

London Super Rich

The British Royals aren't the only rich people that love London.

The British capital is the most important city for the super-rich all over the globe, according to a survey conducted by Knight Frank, an international property consultancy, in collaboration with Citi Private Bank, a wealth management bank focused on super-rich clients. Wealth advisors from a variety of regions around the world said that London mattered most to their high net worth clients, based on criteria ranging from the availability of luxury residences to economic openness and social stability.

Even though these people with stacks of extra cash can easily travel anywhere, many super-rich individuals choose to set up camp in London. The British capital is home to the third largest number of billionaires in the world, with 39 worth a total of $134 billion, according to Forbes Magazine.

While Moscow is home to the most billionaires with 78 and New York comes in second with 57, according to Forbes’s most recent tally, London draws its richest residents largely from other parts of the world. British-born Virgin Group founder Richard Branson may be London's most famous billionaire, but the city's highest net worth individual is Indian steel magnate Lakshmi Mittal, followed by Uzbek-born steel tycoon Alisher Usmanov and the Russian oil mogul and Chelsea Football Club owner Roman Abramovich, according to the Sunday Times’ Rich List.

But living near Queen Elizabeth isn't cheap. It's 54 percent more expensive to live in London than in Berlin, the super-rich's tenth favorite city, and even residing in New York City is 4 percent cheaper than dwelling in the U.K. capital, according to Expatisan -- a website that provides real-time cost of living comparisons.

Check out the 10 most important cities to the super-rich:

10. Berlin
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