"Sixty global locations were analysed, based on prices for prime residential properties, the quality-of-life score for each location, hospitality and each location’s global reach and connectivity through flight connections. Just as with choosing a primary residence, the same principle of 'location, location, location' applies when choosing a destination for a second home," says Lucie Hanuš, Marketing Manager at Savills.

The French Riviera (Côte d'Azur), which tops the ranking, offers natural landscapes, varied high-end lifestyle offerings, annual international events, from sport tournaments to film festivals, complemented by a wide range of property on offer. Monaco ranks second, with the highest prime property prices in all 60 of the locations on the index. This, coupled with good connectivity and easy access via Nice airport, along with a calendar full of social and sporting events from the annual gala to Formula 1 all of which supports its position. In third place is Aspen, the highest ranked ski destination in the index and one of the most sought after second home destinations in the United States. Fourth and fifth, respectively, are central Italian region of Tuscany, where prime property prices are relatively low, and the Balearic Island of Mallorca. The highest-ranked UK location in the index, in seventh place, is the Cotswolds, an Area of Outstanding Natural Beauty that also benefits from a wide variety of attractions and ease of access to London.                                                                                             

The highest priced and faster growing destinations tend to be space constrained or have limitations on the number of properties which can be built. Ski locations in particular stand out, with an average price growth of 15% between June 2022 and June 2023.

Read the full report here.