Knight Frank opens private office in Hong Kong
Keong adds that the workplace has actually been established at “impeccable timing”. “I anticipate working carefully with him [Tung] to service our buyers who are based in the area together, where company, assets, real estate as well as way of livings have been and remain to be entangled.”
The opening of Knight Frank’s private workplace in Hong Kong transpires a year following it set up a nonpublic workplace in Singapore last February. “With Singapore and Hong Kong being main to resources circulations in the Asian area, it makes good sense to open up an Exclusive Office in Hong Kong too,” states Nicholas Keong, head of exclusive workplace at Knight Frank Singapore.
In an April 14 press release, Knight Frank claims Tung’s appointment will better expand its private consumer base, especially amongst ultra-high-net-worth people (UHNWIs), family workplaces and their experts in Hong Kong and mainland China.
” We are thrilled to have Ho-Pin take part in the Knight Frank Private Office. We prepared ourselves an eager target to be the market-leading, global exclusive customer and even house office advisor in realty, and Ho-Pin’s appointment takes us a step closer to achieving our aim. His appointment allows Knight Frank to serve totally to our customer’s requirements in the area, instructing private clients on all their realty deals, no matter where in the globe they are happening,” states Paddy Dring, head of the Knight Frank Private Office.
Hong Kong, Singapore, along with Sydney rank in the top 10 cities for ultra-prime residential property purchases in 2022. 3 hundred forty-five super-prime purchases (sales negotiated for a minimum of US$ 10 million or $13 million) and 53 ultra-prime sales (negotiated for at least US$ 25 million) were filed in these urban areas. Furthermore, housing properties continue to be the preferable real estate investments for UHNWIs in the Asia-Pacific zone, particularly in Greater China, where 32% of the total wealth of HNWIs was designated to their basic and also backup houses.
Knight Frank has already set up a private office space in Hong Kong, the second in Asia. Tung Ho-Pin has been selected to lead the new business office, instructing private clients on their worldwide realty portfolios.
Knight Frank says that private clients were the most engaged customers in international profitable property investment in 2022, which is expected to carry on this year.
According to Knight Frank’s newest edition of The Wealth Report, 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 Study participants said their customers prepare to get a residential property in 2023.