By Tricitynews
Reporter
Chandigarh 02nd March:- Knight Frank, the independent
global property consultancy, today launches the 11th edition of The
Wealth Report 2017. The report tracks the growing super-rich population in 125 cities
across 89 countries. The Wealth Reports yearly issue provides a unique perspective
on the issues that are influencing UHNWI investment and lifestyle
decisions. This year’s survey results are based on responses from almost 900 of the world’s leading private bankers and wealth advisors.
Key
Takeaways India
Dr.
Samantak Das, Chief Economist & National Director-Research, Knight Frank
India said thay over the last ten years we have seen annually
500 new UHNWIs being added in India and we expect this number to double to 1000
every year in the coming decade. Out of 40 global cities, Mumbai ranks 11 in
terms of future wealth accumulation ahead of Chicago, Sydney, Paris, Seoul and
Dubai. In terms of real estate sector investment, the wealthy Indians have
expressed their top priority in the Office segment and Logistics also sees a
three-fold rise. Even though the residential market in India is reeling under pressure,
40% of wealthy Indians are likely to invest in residential property in India in
the next two years while 25% are keen for overseas avenues.
Nicholas Holt, Head of Research
for Asia Pacific, Knight Frank Asia Pacific, said that the Attitudes Survey shows us that more Indian UHNWIs are choosing to
send their children overseas for secondary and tertiary education. This has
property market implications as parents are more likely to purchase property in
overseas school or university locations, combining investment with the
practicalities of housing their children. The top three overseas markets
identified by Indian UHNWIs according to the survey are (in order): the UK,
Singapore and the US three of the markets we believe will be the target of
Indian property investment going forward.
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