Knight Frank opens private office in Hong Kong
The opening of Knight Frank’s special workplace in Hong Kong transpires a year just after it set up an exclusive office in Singapore last February. “With Singapore and Hong Kong being main to funding circulations in the Asian territory, it makes good sense to open a Private Office in Hong Kong too,” claims Nicholas Keong, head of exclusive workplace at Knight Frank Singapore.
In an April 14 news release, Knight Frank states Tung’s appointment will even more expand its exclusive client base, especially among ultra-high-net-worth people (UHNWIs), family offices and their advisors in Hong Kong and mainland China.
Knight Frank claims that exclusive real estate investors were the most active customers in global profitable real estate investment in 2022, that is anticipated to proceed this year.
Hong Kong, Singapore, along with Sydney place in the top 10 cities for ultra-prime property purchases in 2022. 3 hundred forty-five super-prime purchases (sales negotiated for at the very least US$ 10 million or $13 million) and 53 ultra-prime sales (negotiated for at least US$ 25 million) were filed in all these cities. In addition, residential properties stay the more suitable property financial investments for UHNWIs in the Asia-Pacific zone, especially in Greater China, where 32% of the complete riches of HNWIs was alloted to their main and backup houses.
According to Knight Frank’s most recent edition of The Wealth Record, 45% of Asia-Pacific HNWIs are anticipated to experience a rise in wealth in 2023 compared to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Perspectives Study respondents said their customers prepare to purchase a home in 2023.
Knight Frank has already set up a nonpublic office in Hong Kong, the 2nd in Asia. Tung Ho-Pin has been assigned to head the new workplace, guiding exclusive customers on their international realty profiles.
” We are pleased to have Ho-Pin join the Knight Frank Private Workplace. We prepared ourselves a determined focused to be the market-leading, worldwide exclusive customer and even house workplace advisor in real estate, as well as Ho-Pin’s appointment involves us an action closer to reaching our goal. His appointment enables Knight Frank to provide fully to our customer’s requirements in the region, instructing exclusive customers on all their real estate transactions, regardless of where in the globe they are occurring,” says Paddy Dring, head of the Knight Frank Private Office.
Keong includes that the office has been built at “impressive moment”. “I eagerly anticipate working closely with him [Tung] to servicing our customers who are based in the place together, where business, assets, real property as well as way of livings have been and remain to be entangled.”