In spite of the repercussions of Brexit or those of Covid, London seems for now to hold its own in terms of concentration of the rich and super rich among its inhabitants: not only at the very high levels of billionaires, but also among the medium-high ones of millionaires (in dollars ), whose number - according to a latest survey taken up by the Guardian among others - is now higher than that of New York.
The overtaking on the Big Apple
was certified by a research by the real estate consultancy Frank Knight, which estimates that 875,000 millionaires (i.e. with assets, including property, worth more than 1 million dollars) residing in the British capital against 820,000 in the American metropolis.
These are data, updated after the pandemic, on which the average (very high) value of London-owned properties weighs.
The holding of the market - at least on the front of those of a certain value - seems to have held up better to date than some forecasts indicated despite the fluctuations of the last few years.
"Ironically, the high cost of housing in London, averaging £ 514,000, is the main driver for classifying so many families as wealthy," says Liam Bailey, global research manager at Knight Frank.
The Guardian himself notes the rest - on the opposite side of the moon - the signs of further growth in disparity and social inequalities on the banks of the Thames as elsewhere: recalling recent statistics released by the British government itself which attest, compared to 10% of total millionaires in relation to the total population of London, 28% of people (about 2.5 million) indicated within the poverty threshold calculated according to the parameters of the country.
Data shows that 800,000 - or 39% - of the capital's children live in poverty.
It is the highest child poverty rate since data collection began in 1994
.
Knight Frank's Wealth Report shows that despite the economic destruction wreaked by the pandemic on millions of people with modest incomes,
those who were already very wealthy were able to increase their fortunes
.
The research found that London had more so-called 'premium' homes than any city in the world, with more than 68,000 units worth over £ 2 million each.
There has been a flurry of super-rich property sales during the pandemic as wealthy foreign investors take advantage of the decline in the value of the pound and the tax benefits generated by Brexit.
London has also been named
the city of choice for the rich for lifestyle
, according to Knight Frank's survey of what the rich ask for from cities such as Michelin-starred restaurants, opera houses and theaters, universities, sports and leisure facilities. shopping.
London is also said to have benefited from an
influx of wealthy Hong Kong citizens
, many of whom have left the former British colony amid concerns over China's authoritarian crackdown.