Munich has long been known as Germany’s most expensive city — and the numbers confirm it. Despite high living costs, the Bavarian capital continues to draw affluent residents at an impressive rate. A recent analysis shows that Munich is not only one of the wealthiest cities in Germany, but also ranks among the top ten millionaire hubs in Europe.
High living costs – yet highly desirable
With average rents well above those of Berlin or Frankfurt, Munich remains the priciest German city to live in. Even so, the city’s appeal is undiminished. Its combination of quality of life, economic stability, innovation-driven industries and cultural landscape continues to attract high-net-worth individuals who choose Munich as their base.
Where Munich stands among the world’s wealth hubs
The latest international ranking of cities with the highest concentration of millionaires places Munich firmly within the global top 50 and among the leading positions in Europe. The study evaluates the number of millionaires, centi-millionaires (individuals with liquid assets of at least 100 million US dollars) and billionaires living in each city.
Munich’s position in the European landscape is striking: the city secures a place in the top 10, ahead of several well-known financial centres. It is part of a select group of European cities that continue to attract global wealth, investment and top-tier talent.
The numbers: how wealthy is Munich?
According to the analysis, around 69,800 millionaires reside in Munich — a remarkable figure for a city of its size. With a population of approximately 1.6 million, this translates into a millionaire share of about 4.3%. On a global scale, this places Munich in the mid-20s among the most millionaire-dense cities worldwide.
Within Europe, Munich ranks sixth, behind major metropolitan centres such as London, Paris and Milan, but ahead of several other influential Western European cities. This confirms Munich’s role as a key financial and economic powerhouse on the continent.
In addition to millionaires, Munich is also home to nearly 100 ultra-rich individuals, including dozens of centi-millionaires and a notable number of billionaires. While these figures may seem small compared to the highest-ranking cities in the world, they underline the city’s importance as a residence for the global elite.
What makes a city attractive to high-net-worth individuals?
Several factors contribute to Munich’s strong appeal as a wealth hub. A stable legal environment, a well-developed financial ecosystem, business-friendly conditions and strong investment pathways play a decisive role. Cities that offer security, innovation potential and international connectivity tend to attract affluent residents — Munich checks all these boxes.
The city also stands out for its educational institutions, clean environment, cultural diversity and proximity to the Alps, which together create a high quality of life. For wealthy families and professionals, this blend of lifestyle and opportunity is particularly compelling.
Munich’s rise in the European wealth landscape
Munich’s presence among Europe’s wealthiest cities reflects broader trends in finance, technology and lifestyle migration. As the city continues to develop as a leading centre for technology, research and business, it is expected to remain an attractive location for both investors and high-income professionals.
Its role as a thriving economic hub, combined with strong infrastructure, international companies and innovation clusters, positions Munich as a long-term hotspot for wealth in Europe.
