Knight Frank opens private office in Hong Kong
According to Knight Frank’s latest version of The Wealth Record, 45% of Asia-Pacific HNWIs are anticipated to experience a rise in riches in 2023 contrasted to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Perspectives Study participants claimed their buyers intend to purchase a home in 2023.
Hong Kong, Singapore, along with Sydney place in the leading 10 cities for ultra-prime property deals in 2022. 3 hundred forty-five super-prime sales (sales negotiated for at least US$ 10 million or $13 million) including 53 ultra-prime sales (transacted for at least US$ 25 million) were documented in these cities. Furthermore, residential facilities remain the more effective real estate investments for UHNWIs in the Asia-Pacific area, particularly in Greater China, where 32% of the complete riches of HNWIs was allocated to their basic and also extra houses.
” We are delighted to have Ho-Pin take part in the Knight Frank Private Workplace. We set ourselves an eager focus on to be the market-leading, worldwide private consumer and family office expert in real estate, and also Ho-Pin’s appointment involves us an action closer to getting to our goal. His appointment enables Knight Frank to provide completely to our customer’s needs in the region, instructing private buyers on all their realty transactions, no matter where in the world they are taking place,” claims Paddy Dring, head of the Knight Frank Private Workplace.
Knight Frank claims that private clients were one of the most engaged buyers in international profitable realty venture in 2022, which is anticipated to proceed this year.
Keong adds that the office space has been built at “remarkable moment”. “I look forward to working very closely with him [Tung] to servicing our clients who are situated in the area together, where local business, assets, real estate as well as way of livings have actually been and keep on be entangled.”
In an April 14 announcement, Knight Frank claims Tung’s appointment will definitely better increase its special consumer base, especially among ultra-high-net-worth folks (UHNWIs), family office spaces as well as their experts in Hong Kong together with mainland China.
The opening of Knight Frank’s exclusive office in Hong Kong transpires a year just after it established a private office in Singapore last February. “With Singapore as well as Hong Kong being central to resources flows in the Asian region, it makes sense to open a Private Office in Hong Kong too,” claims Nicholas Keong, head of private office at Knight Frank Singapore.
Knight Frank has already set up a nonpublic office space in Hong Kong, the 2nd in Asia. Tung Ho-Pin has been selected to lead the new business office, guiding exclusive clients on their global property portfolios.
