The global market research group estimates that "87 percent of the world's 522,000 multi-millionaires" own second homes in countries/cities abroad.
These include Dubai, which "has emerged as one of the most popular locations for these homes, with an estimated 8,600 multi-millionaires acquiring second properties in the city as of December 2016."
Other countries/cities that came in the top 10 list of second-home hotspots for the rich include London, which came in first, followed by New York City.
The list also featured Hong Kong, Singapore, the Hamptons, Geneva, Miami, Paris, and Zurich.
A city rising in popularity
According to Gulf News, the latest report also reveals that the number of wealthy individuals acquiring second homes in the emirate has "increased notably over the past year."
It even surpassed a few of the world's most popular cities including the Hamptons, Miami, Geneva, Paris, Zurich and Los Angeles.
This comes as no surprise, given that the trend-setting city is a diverse, cosmopolitan place to live in, and is home to millions of people from all over the world.