wealth

Where billionaires like to live

March 31, 2014 at 4:10 PM ET

London is the European city the world's billionaires like to call home, according to research published by Beauchamp Estates and Dataloft.

London, home to the famed Harrods department store, is the favored home of billionaires, a survey finds.
Ben A. Pruchnie / Getty Images
London, home to the famed Harrods department store, is the favored home of billionaires, a survey finds.

There are 67 billionaires living in the U.K. capital, and the city tops the ranks for Western Europe ahead of Paris (25 billionaires) and Geneva (18 billionaires).

The survey by Beauchamp Estates and Dataloft looks at ultra-prime property values, billionaire lifestyles and billionaire property assets across Western Europe.

London's wealthiest reside in the so-called "platinum triangle" that includes the upmarket districts of Mayfair, Knightsbridge and Belgravia. Leafy St. John's Woods and Regent's Park are also favorites.

Billionaires typically pay around £21.7 million ($36.1 million) for a Mayfair mansion, while similar properties in St. John's Wood and Regent's Park go for around £22.3 million ($37.2 million).

They tend to own four homes worldwide, and on average, this includes a £22.3 million mansion in London; an £18.6 million holiday home on the French Riviera; and a £12.1 million Tuscany estate.

And when it comes to choosing a mansion, a billionaire is most likely to be swayed by a property's location, size, outside space, security and design.

The French Riviera is the favorite for billionaire beach-side mansions and has around 39 such homes. The social calendar of a typical billionaire also lends itself to the location as it is in close proximity of the Grand Prix and Cannes Film Festival.

Other popular sunny spots include Tel Aviv/Israel (39), Tuscany (14) and Greece and the Greek islands (9).

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