Knight Frank opens private office in Hong Kong
Knight Frank has recently set up a private office in Hong Kong, the second in Asia. Tung Ho-Pin has been designated to lead the new office, guiding special clients on their global real estate profiles.
The opening of Knight Frank’s exclusive office in Hong Kong comes about a year after it established an exclusive office in Singapore last February. “With Singapore and also Hong Kong being central to funding circulations in the Asian territory, it makes good sense to open a Private Office in Hong Kong too,” states Nicholas Keong, head of private office space at Knight Frank Singapore.
According to Knight Frank’s most recent version of The Wealth Record, 45% of Asia-Pacific HNWIs are forecasted to experience an increase in riches in 2023 contrasted to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Attitudes Survey participants stated their customers prepare to get a residential property in 2023.
Keong includes that the workplace has been built at “remarkable moment”. “I look forward to working very closely with him [Tung] to service our clients that are situated in the region jointly, where business, investments, real estate and lifestyles have actually been and continue to be entwined.”
In an April 14 announcement, Knight Frank says Tung’s appointment will definitely better grow its exclusive client base, especially amongst ultra-high-net-worth folks (UHNWIs), family workplaces and their consultants in Hong Kong together with mainland China.
Knight Frank claims that private real estate investors were one of the most intense customers in worldwide commercial property assets in 2022, that is presumed to continue 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 revenues (sales negotiated for at the very least US$ 10 million or $13 million) and 53 ultra-prime sales (negotiated for at the very least US$ 25 million) were filed in these cities. Furthermore, residential premises stay the better estate investments for UHNWIs in the Asia-Pacific zone, specifically in Greater China, where 32% of the total wealth of HNWIs was allocated to their main and also backup homes.
” We are pleased to have Ho-Pin take part in the Knight Frank Private Office. We prepared ourselves an ambitious focus on to be the market-leading, international private consumer and even family workplace expert in realty, and Ho-Pin’s appointment involves us a step nearer to getting to our aim. His appointment makes it possible for Knight Frank to provide totally to our buyer’s requirements in the location, advising private buyers on all their real estate purchases, despite where in the globe they are happening,” claims Paddy Dring, head of the Knight Frank Private Office.
