Knight Frank opens private office in Hong Kong
Knight Frank claims that private investors were the most intense buyers in worldwide profitable real estate investment in 2022, that is anticipated to proceed this year.
According to Knight Frank’s most current version of The Wealth Record, 45% of Asia-Pacific HNWIs are predicted to encounter a rise in wealth in 2023 contrasted to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Attitudes Survey respondents said their buyers plan to get a house in 2023.
The opening of Knight Frank’s exclusive workplace in Hong Kong happens a year just after it established a nonpublic workplace in Singapore last February. “With Singapore and also Hong Kong being central to resources flows in the Asian territory, it makes sense to open up a Private Office in Hong Kong as well,” claims Nicholas Keong, head of private office space at Knight Frank Singapore.
Knight Frank has recently set up a private workplace in Hong Kong, the second in Asia. Tung Ho-Pin has been selected to direct the new business office, guiding exclusive clients on their worldwide property portfolios.
Keong includes that the workplace has actually been established at “impressive moment”. “I look forward to working carefully with him [Tung] to servicing our clients that are based in the area jointly, where business, investments, real property and also way of livings have been and keep on be entangled.”
In an April 14 press release, Knight Frank claims Tung’s appointment will further expand its exclusive buyer base, particularly amongst ultra-high-net-worth individuals (UHNWIs), family workplaces and their consultants in Hong Kong and mainland China.
” We are delighted to have Ho-Pin sign up with the Knight Frank Private Workplace. We prepared ourselves an eager focused to be the market-leading, global exclusive consumer and even family workplace expert in realty, as well as Ho-Pin’s appointment gets us a step closer to achieving our goal. His appointment enables Knight Frank to provide completely to our customer’s demands in the location, advising exclusive clients on all their real estate transactions, despite where in the world they are happening,” claims Paddy Dring, head of the Knight Frank Private Office.
Hong Kong, Singapore, and even Sydney rank in the leading 10 cities for ultra-prime property deals in 2022. 3 hundred forty-five super-prime purchases (sales negotiated for a minimum of US$ 10 million or $13 million) also 53 ultra-prime sales (negotiated for at least US$ 25 million) were recorded in all these metropolitan areas. On top of that, housing properties stay the better real estate investments for UHNWIs in the Asia-Pacific zone, specifically in Greater China, where 32% of the total riches of HNWIs was designated to their main and extra houses.