Knight Frank opens private office in Hong Kong
In an April 14 announcement, Knight Frank says Tung’s appointment will definitely even more increase its special consumer base, particularly amongst ultra-high-net-worth individuals (UHNWIs), family workplaces and also their consultants in Hong Kong and mainland China.
The opening of Knight Frank’s exclusive office in Hong Kong happens a year following it established a private office in Singapore last February. “With Singapore and Hong Kong being main to capital circulations in the Asian territory, it makes sense to open a Private Workplace in Hong Kong too,” claims Nicholas Keong, head of exclusive office space at Knight Frank Singapore.
” We are thrilled to have Ho-Pin take part in the Knight Frank Private Office. We set ourselves an eager target to be the market-leading, international private consumer and even house office expert in real estate, and Ho-Pin’s appointment takes us a step closer to reaching our aim. His appointment makes it possible for Knight Frank to cater completely to our client’s needs in the region, advising private clients on all their property purchases, despite where in the world they are taking place,” states 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 transactions in 2022. Three hundred forty-five super-prime purchases (sales transacted for a minimum of US$ 10 million or $13 million) including 53 ultra-prime sales (transacted for at the very least US$ 25 million) were filed in these metropolitan areas. On top of that, non commercial properties remain the more effective estate investments for UHNWIs in the Asia-Pacific region, specifically in Greater China, where 32% of the overall riches of HNWIs was designated to their primary and also secondary houses.
Knight Frank claims that exclusive real estate investors were the most intense purchasers in international commercial real estate assets in 2022, that is expected to carry on this year.
Keong incorporates that the workplace has actually been developed at “flawless timing”. “I anticipate working carefully with him [Tung] to servicing our clients that are situated in the place jointly, where local business, investments, real property as well as way of lives have been and remain to be entangled.”
Knight Frank has recently set up a nonpublic office space in Hong Kong, the 2nd in Asia. Tung Ho-Pin has been designated to direct the brand-new office, advising exclusive clients on their global realty portfolios.
According to Knight Frank’s most current release of The Wealth Record, 45% of Asia-Pacific HNWIs are anticipated to encounter an increase in abundance in 2023 compared to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Attitudes Survey respondents said their clients prepare to get a residential property in 2023.