LONDON is the destination of choice for multi-millionaires buying second homes, a new survey suggests.

According to “The multi-millionaire phenomenon part 2” the UK capital is a home away from home for a staggering 22,300 of the world’s 495,000 multi-millionaires — the majority of whom come from the UK and Europe.

The city also contains 9,700 multi-millionaire permanent residents.

London is followed by New York, which is the pied-à-terre of choice for 17,400 multi-millionaires, and Hong Kong, with 14,800.

Along with Monaco, London and Hong Kong are the most expensive cities on the list for prime real estate.

For the purpose of the study, carried out by NW-Wealth.com, a multi-millionaire was classified as someone with net assets of $10m or more.

Top 10 second home spots for multi-millionaires in 2014

1. London
2. New York
3. Hong Kong
4. Singapore
5. Dubai
6. The Hamptons
7. Paris
8. Zurich
9. Geneva
10. Rio