Knight Frank opens private office in Hong Kong
Hong Kong, Singapore, and Sydney rank in the leading 10 cities for ultra-prime property purchases in 2022. Three hundred forty-five super-prime sales (sales transacted for at the very least US$ 10 million or $13 million) also 53 ultra-prime sales (transacted for a minimum of US$ 25 million) were recorded in all these metropolitan areas. Furthermore, housing premises stay the preferable real estate financial investments for UHNWIs in the Asia-Pacific zone, especially in Greater China, where 32% of the total wealth of HNWIs was allocated to their basic and also secondary residences.
Knight Frank has recently established an exclusive office space in Hong Kong, the second in Asia. Tung Ho-Pin has been selected to lead the new business office, guiding exclusive clients on their worldwide real estate portfolios.
Keong incorporates that the office space has actually been built at “impeccable timing”. “I look forward to working closely with him [Tung] to service our buyers who are located in the area jointly, where local business, investments, real estate as well as way of lives have actually been and remain to be entangled.”
The opening of Knight Frank’s exclusive business office in Hong Kong transpires a year following it set up an exclusive office in Singapore last February. “With Singapore and also Hong Kong being key to capital circulations in the Asian region, it makes sense to open up a Private Office in Hong Kong as well,” says Nicholas Keong, head of exclusive office space at Knight Frank Singapore.
Pasir Ris 8 Allgreen Properties Limited
” We are delighted to have Ho-Pin sign up with the Knight Frank Private Office. We established ourselves an eager target to be the market-leading, worldwide special consumer and even family workplace consultant in real estate, as well as Ho-Pin’s appointment involves us a step closer to reaching our goal. His appointment makes it possible for Knight Frank to serve completely to our client’s needs in the location, instructing private clients on all their realty purchases, no matter where in the world they are occurring,” says Paddy Dring, head of the Knight Frank Private Workplace.
According to Knight Frank’s newest release of The Wealth Report, 45% of Asia-Pacific HNWIs are anticipated to experience an increase in riches in 2023 contrasted to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Mindsets Study participants said their customers plan to purchase a home in 2023.
Knight Frank claims that exclusive clients were one of the most intense purchasers in international commercial real estate venture in 2022, which is expected to carry on this year.
In an April 14 announcement, Knight Frank states Tung’s appointment will even more broaden its special client base, specifically amongst ultra-high-net-worth folks (UHNWIs), family offices and their experts in Hong Kong along with mainland China.
