SECOND-HOME MARKETS CONTINUE TO SHINE
WHETHER BUYING A SECOND, THIRD, OR FOURTH HOME, HIGH-NET-WORTH HOME BUYERS LOOK FOR LIFESTYLE UPGRADES WHEN CHOOSING THEIR PART-TIME RESIDENCE
Luxury housing markets that attract second-home buyers were hot in 2025 and are poised for steady demand in 2026.
On the international scale, according to the Henley & Partners Private Wealth Migration Report 2025, the following countries top the list when it comes to millionaire migration over the last 10 years—UAE, US, Italy, Switzerland, Saudi Arabia, Singapore, Portugal, Greece, Canada and Australia.
According to Altrata’s 2025 “Wealth-X Report: Global Ultra-Wealthy Residential Trends and Luxury Real Estate Hotspots,” among the top-tier global cities for ultra-high-net-worth individuals, London stands out as a second-home location. The British capital has the second-highest share of secondary-home owners (59%) among the top 10 UHNW cities, after Miami. It’s followed by Beijing, Hong Kong, Singapore, and Geneva for non-U.S. secondary home ownership locations, according to Altrata.
Traditional U.S. resort areas such as the Hamptons, Aspen, and Naples continue to appeal to buyers, and destinations in Mexico, Spain, Utah, and Montana are gaining in popularity, too. Whether it’s for the beaches, mountains, or lakes—natural beauty beckons in these resort communities, often with a side of culture and nightlife.
THE HAMPTONS
While economic uncertainty and rainy weekends led to a slightly sluggish spring in the Hamptons, the market on the East End of Long Island picked up in June, particularly for homes with water views in the $20 million and up price range, according to Dana Trotter, Managing Partner of The Agency Hamptons.
MONTANA
New generations of ultra-high-net-worth individuals are discovering the outdoor lifestyle in Montana, says Joy Vance, Managing Partner of The Agency Bozeman and The Agency Big Sky. While several areas entice second-home buyers and investors from California and other U.S. markets, Big Sky attracts the wealthiest, especially skiers.
TOP MARKETS FOR INTERNATIONAL HOMEBUYERS
REALTOR.COM
SALT LAKE CITY, UTAH, AND SURROUNDING COMMUNITIES
Luxurious second homes are common in ski resorts near Salt Lake City, but investors are snapping up properties within the city now in anticipation of the 2034 Winter Olympics, says Molly Jones, Managing Partner of The Agency Salt Lake City and The Agency Nephi.
ASPEN, COLORADO
Aspen has become a four-season destination for its unique mix of a small mountain town, spectacular natural beauty, and cosmopolitan amenities, according to Heather Sinclair, Managing Partner of The Agency Aspen. “There’s not a lot of inventory and there are lots of buyers,” she says. “People know that real estate here has been a great investment over years and decades.”
BARCELONA, SPAIN
Despite Spain’s Golden Visa program ending at the beginning of 2025, the market for second—and third and fourth—homes is strong in Barcelona, says Josep Turro Barrols, Managing Partner of The Agency Barcelona. The city, which is bordered by the sea and the mountains, is particularly attractive for those with a more nomadic lifestyle, especially people tied to the digital economy and the arts, he says.
SAN MIGUEL DE ALLENDE, MEXICO
Despite a slight slowdown in the early spring, luxury home sales in San Miguel de Allende and Los Cabos rebounded into record breaking territory through the summer, says Juan Diaz Rivera, Managing Partner of The Agency San Miguel de Allende and The Agency Dominican Republic.
Mexico's market is becoming more evenly balanced between foreign and domestic buyers.
