In a recent report released by Knight Frank – a London based real estate consultancy firm Toronto Ranks number 12 in the world for super rich people. Knight and Frank define super rich, as individuals whose net worth exceed $30 Million USD.
Number 12 on a list of 40 is pretty significant as Toronto beats out major cities like: Geneva, Sydney, Moscow, Los Angeles and many others.
From a retail perspective, Toronto housing a large number of the ultra rich isn’t surprising. If you live in the city you will have notice how many luxury stores have opened over the past couple of years.
It seems as if Yorkdale Mall opens a new luxury store every month, and it’s all to cater to Toronto’s wealthy.
The report is lengthy, but if you would like to read it you can check it out here.