Knight Frank opens private office in Hong Kong
Knight Frank states that private investors were one of the most intense buyers in global commercial property investment in 2022, which is expected to continue this year.
In an April 14 announcement, Knight Frank states Tung’s appointment will definitely even more increase its special client base, especially amongst ultra-high-net-worth people (UHNWIs), family offices and their consultants in Hong Kong together with mainland China.
Hong Kong, Singapore, and even Sydney place in the leading 10 cities for ultra-prime property transactions in 2022. 3 hundred forty-five super-prime revenues (sales transacted for at least US$ 10 million or $13 million) including 53 ultra-prime sales (negotiated for at the very least US$ 25 million) were filed in all these cities. In addition, housing premises remain the better real estate financial investments for UHNWIs in the Asia-Pacific area, especially in Greater China, where 32% of the overall wealth of HNWIs was designated to their primary and backup homes.
Knight Frank has created a nonpublic office space in Hong Kong, the second in Asia. Tung Ho-Pin has been designated to direct the new business office, guiding private customers on their international realty portfolios.
” We are delighted to have Ho-Pin take part in the Knight Frank Private Office. We established ourselves a determined target to be the market-leading, global private consumer and even house office advisor in realty, as well as Ho-Pin’s appointment takes us an action nearer to achieving our goal. His appointment makes it possible for Knight Frank to cater totally to our customer’s needs in the area, advising private buyers on all their real estate transactions, no matter where in the globe they are taking place,” claims Paddy Dring, head of the Knight Frank Private Office.
Keong includes that the office has actually been built at “flawless timing”. “I expect working closely with him [Tung] to service our clients who are situated in the region jointly, where local business, assets, property and lifestyles have been and continue to be entangled.”
The opening of Knight Frank’s exclusive workplace in Hong Kong transpires a year after it set up a nonpublic workplace in Singapore last February. “With Singapore as well as Hong Kong being main to funding flows in the Asian territory, it makes sense to open up an Exclusive Office in Hong Kong too,” claims Nicholas Keong, head of private office space at Knight Frank Singapore.
According to Knight Frank’s most recent release of The Wealth Report, 45% of Asia-Pacific HNWIs are forecasted to experience a rise in riches in 2023 contrasted to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Perspectives Study respondents stated their clients prepare to get a home in 2023.
