Oslo boasts many millionaires

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Oslo has landed on the list of the top 10 cities in the world with the most millionaires, in terms of US dollars. Fully 2.9 percent of all the residents of Oslo have net worth equivalent to more than USD 1 million, reported news bureau NTB.

The list of millionaires appeared in a recent issue of the US-based magazine Forbes, and is based on a survey by the consulting firm WealthInsight and Spears magazine.

Many Norwegians can boast being millionaires in terms of their own local currency, the krone, not least because of the rapid rise in real estate prices in recent years. What sets the WealthInsight/Spears survey apart, though, is that it doesn’t include wealth from individuals’ primary residence, meaning that the fortunes are based on other factors instead of that which forms the basis of most personal wealth.

Norway ranked seventh on the list, just behind London. Monaco topped the list, with 29.2 percent of its residents claiming to be US dollar millionaires.

newsinenglish.no staff