Knight Frank opens private office in Hong Kong
The opening of Knight Frank’s private workplace in Hong Kong happens a year following it established a nonpublic workplace in Singapore last February. “With Singapore as well as Hong Kong being central to funding circulations in the Asian territory, it makes sense to open an Exclusive Office in Hong Kong also,” says Nicholas Keong, head of exclusive office space at Knight Frank Singapore.
In an April 14 announcement, Knight Frank states Tung’s appointment will even more increase its private consumer base, particularly among ultra-high-net-worth folks (UHNWIs), family office spaces and also their advisors in Hong Kong along with mainland China.
Keong adds that the workplace has been established at “impeccable timing”. “I look forward to working carefully with him [Tung] to service our customers that are based in the place together, where business, investments, real property and also way of lives have actually been and remain to be entangled.”
Hong Kong, Singapore, and even Sydney rank in the leading 10 cities for ultra-prime property purchases in 2022. 3 hundred forty-five super-prime purchases (sales transacted for at least US$ 10 million or $13 million) including 53 ultra-prime sales (transacted for at least US$ 25 million) were recorded in all these metropolitan areas. Furthermore, housing premises stay the better estate investments for UHNWIs in the Asia-Pacific region, especially in Greater China, where 32% of the overall riches of HNWIs was allocated to their main and secondary homes.
” We are pleased to have Ho-Pin take part in the Knight Frank Private Workplace. We established ourselves an eager target to be the market-leading, worldwide exclusive consumer and home office expert in real estate, and also Ho-Pin’s appointment takes us a step closer to achieving our aim. His appointment enables Knight Frank to provide completely to our customer’s requirements in the region, instructing exclusive clients on all their realty transactions, regardless of where in the world they are occurring,” states Paddy Dring, head of the Knight Frank Private Workplace.
Knight Frank has recently established a nonpublic workplace in Hong Kong, the 2nd in Asia. Tung Ho-Pin has been designated to head the brand-new workplace, guiding private customers on their worldwide real estate portfolios.
According to Knight Frank’s most recent edition of The Wealth Record, 45% of Asia-Pacific HNWIs are forecasted to experience a boost in wealth in 2023 compared to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Mindsets Survey respondents stated their clients intend to purchase a residential property in 2023.
Knight Frank claims that private real estate investors were the most active buyers in international profitable real estate investment in 2022, which is expected to proceed this year.