Knight Frank opens private office in Hong Kong
Hong Kong, Singapore, and Sydney place in the top 10 cities for ultra-prime residential property purchases in 2022. 3 hundred forty-five super-prime purchases (sales negotiated for a minimum of US$ 10 million or $13 million) and 53 ultra-prime sales (transacted for a minimum of US$ 25 million) were recorded in all these metropolitan areas. Additionally, residential premises continue to be the more effective real estate investments for UHNWIs in the Asia-Pacific zone, specifically in Greater China, where 32% of the total wealth of HNWIs was alloted to their basic and extra residences.
Knight Frank says that private real estate investors were one of the most active purchasers in worldwide profitable real estate venture in 2022, that is anticipated to proceed this year.
” We are pleased to have Ho-Pin sign up with the Knight Frank Private Workplace. We established ourselves a determined target to be the market-leading, worldwide exclusive client and family workplace advisor in real estate, and also Ho-Pin’s appointment takes us an action closer to reaching our aim. His appointment allows Knight Frank to cater completely to our buyer’s needs in the location, advising private clients on all their realty transactions, despite where in the world they are taking place,” states Paddy Dring, head of the Knight Frank Private Office.
The opening of Knight Frank’s private workplace in Hong Kong comes about a year following it established a private office in Singapore last February. “With Singapore as well as Hong Kong being key to funding flows in the Asian area, it makes good sense to open an Exclusive Office in Hong Kong also,” says Nicholas Keong, head of private office space at Knight Frank Singapore.
In an April 14 news release, Knight Frank states Tung’s appointment will better increase its private buyer base, especially amongst ultra-high-net-worth folks (UHNWIs), family offices and their advisors in Hong Kong together with mainland China.
According to Knight Frank’s latest version of The Wealth Record, 45% of Asia-Pacific HNWIs are forecasted to experience an increase in abundance in 2023 compared to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Attitudes Study participants claimed their clients prepare to acquire a residential property in 2023.
Keong adds that the workplace has actually been developed at “flawless timing”. “I look forward to working closely with him [Tung] to service our clients that are based in the area together, where local business, assets, real property and also way of livings have actually been and keep on be enlaced.”
Knight Frank has already set up an exclusive workplace in Hong Kong, the second in Asia. Tung Ho-Pin has been designated to lead the new workplace, advising exclusive customers on their international realty profiles.
