Knight Frank opens private office in Hong Kong
According to Knight Frank’s newest version of The Wealth Record, 45% of Asia-Pacific HNWIs are forecasted to experience a rise in wealth in 2023 contrasted to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Perspectives Survey respondents said their buyers plan to purchase a residential property in 2023.
Knight Frank claims that private investors were the most engaged purchasers in international commercial realty investment in 2022, which is expected to proceed this year.
” We are delighted to have Ho-Pin take part in the Knight Frank Private Workplace. We prepared ourselves a determined focused to be the market-leading, global private client and even house workplace expert in realty, as well as Ho-Pin’s appointment gets us a step closer to reaching our aim. His appointment allows Knight Frank to provide fully to our buyer’s needs in the area, urging private customers on all their realty transactions, regardless of where in the world they are taking place,” states Paddy Dring, head of the Knight Frank Private Workplace.
Hong Kong, Singapore, and even Sydney rank in the best 10 cities for ultra-prime residential property purchases in 2022. 3 hundred forty-five super-prime revenues (sales negotiated for at the very least US$ 10 million or $13 million) including 53 ultra-prime sales (transacted for a minimum of US$ 25 million) were filed in these cities. On top of that, non commercial premises stay the more effective property investments for UHNWIs in the Asia-Pacific region, particularly in Greater China, where 32% of the total wealth of HNWIs was alloted to their primary and backup residences.
The opening of Knight Frank’s private office in Hong Kong transpires a year following it set up a private workplace in Singapore last February. “With Singapore and also Hong Kong being central to funding flows in the Asian territory, it makes good sense to open up a Private Office in Hong Kong also,” claims Nicholas Keong, head of private office space at Knight Frank Singapore.
Knight Frank has created a private office in Hong Kong, the second in Asia. Tung Ho-Pin has been selected to lead the brand-new office, instructing private clients on their international realty portfolios.
Keong includes that the office has actually been established at “flawless timing”. “I look forward to working carefully with him [Tung] to service our clients who are situated in the region jointly, where local business, investments, real property and way of livings have actually been and remain to be entangled.”
In an April 14 announcement, Knight Frank claims Tung’s appointment will certainly further increase its special buyer base, specifically among ultra-high-net-worth folks (UHNWIs), family workplaces and their advisors in Hong Kong and mainland China.