Urban culture or leisure resort: which location is for you?
Compare the lifestyle options in Europe’s premier cities and its leading resort locations
When Knight Frank surveyed 700 high-net-worth respondents from 11 different countries representing 28 nationalities on where they would choose a permanent base, the results were clear. The European Lifestyle Report 2024: European Relocation Survey showed that 83% of respondents preferred a city base over a sun, ski or rural resort.
The survey revealed that it was Generation X (aged 44 to 59) and younger Baby Boomers (aged 60-69) who most favoured a resort location, but even within these groups, over 70% elected a city location as their preference.
Paris was the city that topped the list overall for respondents, followed by Berlin, Barcelona, Vienna and Madrid. For the 17% who chose a resort location as their favoured permanent base, the prime choices were Verbier in the Swiss Alps, with Monaco, the South of France, Chamonix and Marbella also in the top five.
“The cities chosen each offer unique cultural, economic and lifestyle benefits that appeal to affluent movers”’ says Kate Everett-Allen, Head of European Residential Research at Knight Frank. “The chosen resorts offer luxury living, sunny climates and high-end amenities. Each location offers a distinctive appeal for potential residents.”
More of us now live in cities than ever before, over half the global population, a percentage set to rise to 70% by 2050. In Europe, the best cities offer opportunities, endless variety and culture and history on tap.
Today, property buyers are more mobile than ever and many wealthy individuals are choosing to relocate for a variety of personal, tax and lifestyle reasons. They have exciting choices in both urban and resort locations. To help determine the best lifestyle for their needs, the European Lifestyle Report outlines the quality of life on offer in prime locations.
The “European Lifestyle Monitor” evaluates 20 premier European destinations, 10 cities and 10 resorts, across five key metrics,” says Ellen Soberman from Knight Frank Research. “They are Economy, Human Capital, Quality of Life, Environment and Infrastructure and Mobility. Drawing on extensive data from sources such as Oxford Economics and the European Commission, this analysis offers a comprehensive comparison for high-net-worth individuals considering relocation.”
Quality of Life is assessed by aspects including life expectancy, income levels, housing costs, access to sports facilities, safety and cultural amenities to assess residents’ wellbeing and determine a city’s liveability.
City living
Under this analysis, the Austrian capital of Vienna topped the ten cities for quality of life followed in order by Stockholm, Dublin, Berlin, Lisbon, Barcelona, Madrid, Paris, Milan and London.
Vienna is classical, traditional and cultured yet behind the elegant Hapsburg architecture and grand art collections, also bohemian too, with fashionable boutiques in the 5th and 6th districts and the Zaha Hadid-designed library in the 2nd district, The lifestyle is further improved by 23 lidos, 12 riverside lakes and plenty of green space, there’s even a vineyard within the city limits.
Berlin is a colourful urban success story, with a dynamic art and tech scene that attracts a young and well-educated workforce. It has over 400 galleries and 300 museums and theatres, a cutting-edge fashion industry and a growing roster of architecturally significant buildings. Top locations within the city for international buyers include Charlottenburg, the sophisticated heart of West Berlin and central and historic Mitte.
“Berlin is a city that has been evolving for some time and that dynamism and vivacity is super inspiring,” says Jason Mansfield from Knight Franks’ International Desk. “If you want to be at the forefront of interesting art and culture look no further. Berlin’s thriving tech and start up ecosystem provides ample business opportunities while its relatively low cost of living and excellent public transportation delivers a high quality of life.”
Barcelona continues to attract lifestyle buyers from around the world helped by its location on the Mediterranean, climate and good international and domestic travel connections. Its forward-looking tech scene brings worldwide talent to the city which regularly ranks in the top three most popular start-ups cities in Europe, and it has excellent international schools. Prime locations for families include the modernist homes in Eixample and the well-established, low-level neighbourhoods of Sarria and Turo Park.
Resort living
Top billing for quality of life among the resorts in the European Lifestyle Monitor goes to Monaco, the tiny principality that regularly rates as the world’s most expensive residential property market. It is followed, in order, by Lake Geneva, Tuscany, South of France, Verbier, Chamonix, Spain’s Balearic Islands, Marbella, the Algarve and Bordeaux.
Lake Geneva combines physical beauty with its views to Alpine peaks, with excellent transport connections, personal and financial security and superb international schools. Top locations include Geneva itself, either on the southern left bank where you’ll find most private banks and international companies, or on the northern right bank closer to Lausanne and Geneva airport. Carry on further around the northern bank of the lake past Nyon to the hills and vineyards of La Côte and further still to the festival town of Montreux, both popular choices with international buyers.
“Geneva is a beautiful city with a rich history and a bustling business environment, offering the opportunity for an active lifestyle year-round,” says James Davies from Knight Frank’s International team. “Summer activities include swimming and boating on the lake. Many people are unaware of the thriving wine industry around Lake Geneva.”
The South of France is one of Europe’s most established resort locations, a Mediterranean beauty that has brought royalty, celebrities and the wealthy for several generations. Prime locations include Cannes and St Tropez, both within easy reach of Nice airport. Inland, the medieval hilltop Provencal villages include Mougins and St Paul de Vence, locations that have inspired world-famous artists and today, fizz with local life and weekly markets.
Chamonix is a true year-round Alpine resort, busier in summer than winter and pleasingly, just a little over one hour’s drive from Geneva airport. The scenery is as stellar as the skiing, thanks to both Mont Blanc and the Aiguille du Midi, the snow record is strong and the ski terrain is wonderfully varied with five separate piste areas. There’s exceptional free riding in the Vallée Blanche, a buzzy town centre and good relative value compared with other big name Alpine resorts.
Read more in the European Lifestyle Report
