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About 1,519 Taipei residents have at least $30 million in assets.
- Taipei, Taiwan's capital city, is ranked the ninth global city by number of ultra-high-net-worth individuals, according to the 2019 Knight Wealth Report.
- About 1,519 residents of Taipei have at least $30 million in assets, according to the report.
- But Taipei's rich are not showy, according to Bloomberg, which calls the Taiwanese capital "Asia's stealthy rich city."
- Millionaires don't flaunt their luxury goods, but they do enjoy buying multiple homes and dining in the city's 24 Michelin-starred restaurants.
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When you think of wealthy Asian cities, Taipei may not come to mind as quickly as billionaire hotspots like Hong Kong or Singapore.
But the Taiwanese capital is ranked ninth in world cities with the highest number of ultra-high-net-worth individuals, according to the 2019 Knight Wealth Report.
The population of ultra-high-net-worth-individuals has grown by 17% in the past five years, according to the report.
The Taiwanese tend to hide their wealth rather than flaunt it, according to Bloomberg, which calls Taipei "Asia's stealthy rich city."
"Despite the remarkable wealth that the ultra-high-net-worth individuals have amassed, most of them prefer to conduct a modest and low-profile lifestyle, still embracing the Chinese virtue of humility and Confucianism," Kai Chen of Taiwan Sotheby's International Realty told Business Insider. "Unlike their counterparts in 'Crazy Rich Asians,' whilst enjoying shopping for jewelries and luxury goods discreetly, as well as fine-dining, rich Taiwanese are less conspicuous in their approach to consumption."
Taiwan's super-rich do, however, tend to invest in real estate, with the country's wealthy owning an average of 5.4 homes each.
"Taiwanese families will hoard properties when the opportunity presents itself, and not just within Taipei: property investment is basically an addiction!" Chen said.
Here's what it's like living in Taipei as a millionaire.