• Knight Frank launches The Wealth Report 2020 (14th edition)

    19 March 2020

    (4 March 2020, Hong Kong) The Wealth Report 2020 in Hong Kong. Now in its 14th year, The Wealth Report provides a unique global perspective on private wealth and prime property.


    From left to right: Thomas Lam and Mei Han Wong

    The annual publication includes the Knight Frank City Wellbeing Index; price movements across 100 luxury residential property markets; results of the Attitudes Survey and the Knight Frank Luxury Investment Index. Headlines from the report include:

    • Over 31,000 additional UHNWIs were created globally in 2019.
    • By 2024, Asia will be the world’s second largest wealth hub outperforming Europe, with a forecast five-year growth of 44%.
    • Asia takes 7 of 10 places for fastest UHNWI population growth rates in 2019 year-on-year.
    • In 2019, Chinese Mainland has the second largest UHMWI population in the global, just behind US.
    • Hong Kong sits in 171th position of ultra-wealthy population growth with predicted growth of 5% by 2024.
    • Oslo takes the top spot of Knight Frank’s first City Wellbeing Index, followed by Zurich and Helsinki.
    • Asian cities dominate the top 10 best performing locations in Prime International Residential Index. Among Asia Taipei leads the rankings (8.9%), followed by Seoul (7.6%), Manila (6.5%) and Guangzhou (6.3%).
    • Hong Kong’s luxury homes remain the second most expensive in the world.
    • ‘Collectable Handbags’ tops the Knight Frank Luxury Investment Index, rising in value by 13% over the 12 months to Q4 2019, knocking rare whisky off its number one position.

    Wealth distribution

    The Wealth Report 2020 (Page 18)

    Ultra-wealthy population (those with net assets of US$30 million or more)

    According to Knight Frank’s Wealth Report 2020, the number of ultra-wealthy people (US$30m+)* around the world is predicted to grow by 27% in the next five years to 2024, taking the population to just under 650,000.

    Out of the top 20 fastest growing markets presented in the report, six are located in Asia – led by India (73% growth), five are in Europe – led by Sweden (47% growth) – and three are in Africa, led by Egypt (66% growth). Hong Kong sits in 171th position with predicted growth of 5% by 2024.

    Liam Bailey, Global Head of Research at Knight Frank said, “Knight Frank predicts that by 2024, Asia will be the world’s second largest wealth hub outperforming Europe, with a forecast five-year growth of 44%.

    The data, compiled for the first time by Knight Frank shows that over 31,000 additional UHNWIs were created globally in 2019, an increase of 6.4%. The number of UHNWIs created in Asia over the last year significantly outpaced that in Europe with an extra 11,788 UHNWIs created in the Asia region. Liam Bailey continued: “It’s exciting to see how wealth is developing across Asia and, with the number of ultra-wealthy in India, Vietnam, Chinese Mainland and Malaysia outpacing many other markets over the next five years, it will be interesting to see how this impacts the global property market. With property accounting for a large proportion of total UHNWI wealth – almost a third, according to the Knight Frank Attitudes Survey – it will be fascinating to see where in the world the wealthy invest and into which asset classes.”

    To download the report, please visit: knightfrank.com/wealthreport.


    The 280-meter-tall Lumina Shanghai, developed by Henderson Land Group and designed by Gensler, is the tallest skyscraper in the Xuhui Riverside District.

    A sophisticated yet modern setting was derived by juxtaposition of Indochine-Vietnamese features and wood-fire inspired material palettes. Re-interpretation of the spatial order of a typical Indochine-Vietnamese mansion has been adopted to give hierarchy, layers and details to the space.


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