(2 March 2017, Hong Kong) Knight Frank, the independent global property consultancy hosted a press conference this afternoon in Hong Kong for the launch of The Wealth Report 2017. Now in its 11th year, the report tracks the growing super-rich population in 125 cities across 89 countries.
- Asia tops the absolute increase in UHNWI population among world regions, both in the last 10 years and in the next 10 years.
- China ranks 2nd in the world in terms of absolute increase in UHNWI population over the next 10 years.
- Of the 89 cities surveyed, Hong Kong tops UHNWI population in Asia with 4,080 UHNWIs in 2016, increased by 230 year-on-year. The city comes third in the world in 2016, after New York City and London.
- The UHNWIs in Hong Kong owns 3.3 homes on average.
- Asian billionaires will double over the next decade.
- China tops the largest billionaire population in Asia in 2016.
- China’s cities have catapulted themselves up the rankings of annual growth rate of luxury flat prices with Shanghai, Beijing and Guangzhou claiming the top three slots, all exceeding 26% year-on-year growth.
- Hong Kong’s luxury homes remain the second most expensive in the world.
- Hong Kong ranks third overall in the Knight Frank City Wealth Index 2017, which identify which cities that matter to the wealthy.
- Shanghai expects to see strongest growth in prime residential flat prices in 2017.
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