With 15,400 super-wealthy residents, Hong Kong defeated New York and London, topping the list of cities with the most multimillionaires - those with assets worth more than US$10 million - according to a recent report on global wealth.

The report, conducted by New World Wealth, a Johannesburg-based consultancy, found that worldwide numbers of millionaires and multimillionaires have grown rapidly over the past 10 years. The number of millionaires has increased by 58 percent during the last decade, while the number of multimillionaires has gone up by 71 percent in the same period.

Besides Hong Kong, Singapore was the only Asian city to edge itself into this Top 10 list, with 6,600 multimillionaires.

Just outside the Top 10 were Beijing with 4,900 multimillionaires, Taipei with 4,800, and Shanghai with 3,600.

New World Wealth said a range of research sources were used to determine wealth, including public directories, company databases, and luxury-goods databases focusing on owners of prime property, yachts, private jets and art works.

Following are New World Wealth's Top 10 cities with the most multimillionaires:

  Mexico City, Mexico (tie)

Mexico City

5,600 multimillionaires